Banks

The international auditors Deloitte issued various internal warnings to both Caixa Geral de Depósitos and the Bank of Portugal in 2008 that multi-million euro loans made to art collector Joe [...]

A Funchal court has given Portuguese State bank Caixa Geral de Depósitos the right to call in a €6.6 million debt from art collector and entrepreneur Joe Berardo. The ruling was made over a [...]

The Bank of Portugal’s get tough policy on financial institutions who infringe regulations has netted the institution €1.2 million. For example, in 2015 and 2016 the BdP fined state-owned Caixa [...]

Novo Banco, the ‘good’ bank created in 2015 from the ashes of failed Banco Espírito Santo, has registered a €270 million loss because of unsold or underperforming property assets on its books and [...]

Portuguese retail bank EuroBic has reported net profits of €42.5 million for 2018 – an improvement on the €25 million registered for 2017. The increased profits were achieved on the back of [...]

Portugal’s Minister of Finance, Mário Centeno has told the Financial Times that its bailout of the bank Banif was “probably the most expensive in European banking.” The bank was part taken over [...]

A former official auditor has admitted that there was a certain careless approach in granting loans at Caixa Geral de Depósitos. Addressing a parliamentary inquiry, Oliveira Rego said that [...]

The state-owned bank Caixa Geral de Depósitos has raised its bank charges again — this time for some bank services and products such as cheque withdrawals at branches which will triple. Last [...]

Novo Banco, the bank that rose from the ashes of Banco Espírito Santo which collapsed in 2014, is to ask for an extra €1.49Bn cash injection from the Resolution Fund after posting massive [...]

The Government says that the insurance regulator could open an inquiry into the professional ethics of top Portuguese banker Tomás Correia. Correia is the current Chairman of the Montepio General [...]