A report by the Court of Auditors confirms public costs of around three billion euros related to Banif. The Resolution Fund still has debts to repay to the Treasury, and those who suffered losses are claiming compensation.
A decade on, Banif is the fourth most costly intervention in Portuguese banking
Saturday, 20 December 2025RSS
Context & Explainers
The Court of Auditors (Tribunal de Contas) is Portugal’s independent public audit body that inspects and approves the accounts of state entities, public companies and other bodies that use public funds. Its rejection of an organisation’s accounts signals serious financial irregularities and can lead to recoveries, fines or political fallout, so taxpayers and public-sector contractors should pay attention.
