Novo Banco has received a cash injection of just over €1Bn from the Resolution Fund to support the bank’s cash-flow while the Portuguese State and US fund Lone Star decide what to do with the [...]
Portugal’s Montepio bank faces huge fines of €30 million from the Bank of Portugal for alleged infractions. The mutual bank which made a timid profit of just €12.6 million in 2018 after years of [...]
Up to 30% of Portugal’s mainly small and medium size companies will face extreme difficulties in surviving the shutdown of the economy and expected recession according to the President of [...]
Big debtors have generated losses of €3.5Bn for Novo Banco according to the Bank of Portugal in its report about bank loan defaulters. The document reveals the losses for each Portuguese bank [...]
A parliamentary inquiry into why a Portuguese public bank recklessly lent €1.2Bn in risky loans, has published its conclusions. After 36 hearings and 130 hours of questioning various people who [...]
The Portuguese Banking Association has stated that there is no “red alert” over bank exposure to Portuguese public debt. “The association is aware of the increase in exposure of banks to [...]
State-run bank Caixa Geral de Depósitos says that it will aim to go “above and beyond” the reforms and restructuring guidelines laid down by the European Commission and Central Bank. The bank, [...]
Portugal’s banking sector has been shaken up in recent months by a wave of mergers and acquisitions. Seeming to follow the advice of the European Central Bank and European Commission which has [...]
A former senior director of State-owned bank Caixa Geral de Depósitos told a public inquiry into ruinous lending by the institution that he “regretted the deal had gone wrong”. Armando Vara gave [...]
Two Portuguese banks are at war over the right of one to use a trademark which the other says is too similar to its own. Banco BIC decided to change its commercial name to EuroBic but a [...]
