The German digital bank Trade Republic has officially launched a branch in Portugal, authorized by the Bank of Portugal (Banco de Portugal or BdP). Customers can now obtain a Portuguese IBAN (PT50) and earn 3% interest on balances up to 50,000 euros, with the bank aiming to double its current base of 200,000 customers within a year.
German bank Trade Republic opens Portuguese branch
Thursday, 16 July 2026AI summary
Context & Explainers
- Governor of Banco de Portugal (2020–present)
- Former: Minister of Finance (2015–2020), President of the Eurogroup (2018–2020)
- Party: Independent (PS-affiliated)
- Background: Economist (PhD, Harvard)
Mário José Gomes de Freitas Centeno (born 1966) is Portugal's central bank governor and one of the country's most internationally recognized economic figures. As Finance Minister under António Costa's first PS government, he became known as "Cristiano Ronaldo of European finance" for turning Portugal's deficit into a surplus while reversing austerity.
He was elected president of the Eurogroup (the informal body of euro area finance ministers) in 2018 — the first Portuguese to hold the role. Since becoming Governor of Banco de Portugal in 2020, he sits on the ECB's Governing Council and oversees Portuguese banking supervision and financial stability.
4 sources
- Trade Republic launches branch in Portugal and studies MB Way integrationJornal PT50 ·
- Trade Republic opens a branch in Portugal and pays 3% interest to rival Revolutdinheirovivo.dn.pt ·
- Trade Republic strengthens operations in Portugal, convinced that "the average Portuguese person is not bad at saving"expresso.pt ·
- Trade Republic challenges banks with Portuguese IBAN and 3% interesteco.sapo.pt ·
