Banks

The US ratings gency Moody’s has warned this week that the negative overseas perception of Portugal’s banking system generated by the Caixa Geral de Depósitos scandal could “damage Portugal’s [...]

The professional integrity and competence of the Governor of the Bank of Portugal, Carlos Costa, is being called into question by both bankers and politicians. The leader of Portugal’s new [...]

Profits at Santander Totta soared to €500 million in 2018 in what was the bank’s best results since 2015. According to Jornal de Negócios, the bank led by Pedro Castro e Almeida improved its [...]

Portugal’s state-owned bank Caixa Geral de Depósitos is to slap a 83 cents charge on all online bank transfers. The charge represents a 60% hike on current charges of 52 cents that the bank’s [...]

Portugal’s state owned bank Caixa Geral de Depósitos has admitted losing almost €1.2Bn from a number of high risk loans between 2000 and 2015. The loans did not comply with the regulations [...]

Banks in Portugal will be able to offset 100% of their imparities (a reduction in the recoverable amount of a fixed asset below book value) against their corporation tax. The measure was approved [...]

The Portuguese cooperative bank Montepio’s bid to float €250 million in bonds onto the market has failed. The bank hoped to raise the money by issuing bonds to strengthen its capital [...]

Portugal’s Novo Banco, created in 2015 from the collapse of Banco Espirito Santo, has successfully offloaded a portfolio of Non-Performing Loans worth €2.1Bn. The portfolio containing 102,000 [...]

Part of the largest portfolio of default loans in Portugal is to be put up for sale by Novo Banco. The restructuring fund KKR won the race to buy €1.7Bn of Non-Performing Loans which Novo Banco [...]

Profits at Portugal’s mutual bank Montepio Geral have plummeted from €587 million to just €1.7 million this year. The bank, led by Tomás Correia, has been blighted by allegations of corruption [...]