Public Prosecutor's Office accuses Casa Pia of hiding origin of Russian funds and breaching EU sanctions
Casa Pia is accused by the Public Prosecutor's Office of receiving €1.1 million from a Russian club and of attempting to hide the origin of the money from the Montepio bank, in an alleged breach of European Union sanctions. The case concerns crimes of money laundering, document forgery and violation of restrictions. The club that is ...
Court of Appeal says Salgado must face trial in the BESA case
The Court of Appeal has ruled that Ricardo Salgado must indeed be tried in the BESA case, Sic Notícias reports. This follows the court’s rejection of an appeal lodged by the former banker’s defence that cited the defendant’s state of health. According to the ruling to which Sic had access, the judges argue ...
Novobanco recorre para o Supremo contra Luís Filipe Vieira para limitar perdas de 160 milhões
Novobanco has appealed to the Supreme Court of Justice seeking to limit losses exceeding €160 million in a case against Luís Filipe Vieira, the former president of Sport Lisboa e Benfica. The bank thus intends to avoid becoming a shareholder in two companies, Promovalor II and Inland, which belonged to and are chaired by Vieira, after ...
Today in the news: Novobanco, youth lending and Cotrim
Novobanco has appealed to the Supreme Court of Justice to try to limit losses in excess of €160 million in a case against Luís Filipe Vieira. Meanwhile, Spanish bank Santander is pressing the government to raise the cap on the youth loan guarantee, whose initial ceiling is almost exhausted due to strong demand. In other developments...
UGT unions call for urgent meeting with Abanca over alarming testimonies
Unions say they insisted on arranging a meeting 'as soon as possible'.
Abanca launches voluntary redundancy and early-retirement programme
With immediate effect, the programme aims to reach mutual termination agreements with up to 100 employees and early-retirement agreements with up to 20.
Abanca launches voluntary severance and early retirement programme for up to 120 employees
Spanish bank Abanca will launch a voluntary termination-by-mutual-agreement (RMA) and early retirement programme for central services employees who “freely wish to participate”, the SNQTB union announced today.
Today's news: business lending, public guarantee and the EDP case
Portuguese companies recorded, in the last months of 2025, deposit amounts exceeding loans, reaching record levels in November. In the North, the appointment of the president of the local CCDR is provoking debate between the PS and PSD. BCP is also preparing to ask the Government for an increase in the quota allocated to it under ...
BCP's Polish bank made provisions of €115 million in the fourth quarter
Bank Millennium, BCP's Polish subsidiary, estimates provisions of €115 million in the fourth quarter of 2025 for legal risk related to mortgage loans, according to a statement sent to the market. In the note, published by the Portuguese Securities Market Commission (CMVM), the bank “informs that the preliminary estimate of provisioning ...”
Banks are lengthening terms on new mortgages and the Bank of Portugal wants to rein them in
Statements by the governor of the Bank of Portugal indicate some “pressures” to soften macroprudential recommendations on credit. The Ministry of Finance may change the rules.
Montepio confirms Pedro Leitão's departure from bank leadership
Pedro Leitão is indeed leaving the leadership of Banco Montepio, as reported by ECO, with the president of the Montepio Geral Mutual Association (AMMG), Virgílio Lima, breaking the taboo and acknowledging the work carried out in the bank's recovery. 'Even if the current president of the executive committee is not part of the future composition of the governing bodies ...'
Restructuring, Angola and return to profits: five years of Pedro Leitão at the helm of Montepio
Pedro Leitão can boast of having put Banco Montepio on the path to record profits and of restoring dividend payments for the first time in ten years, but his performance was not enough to persuade the shareholder to keep him in charge for another term – after five years, his tenure has come to an end.
Banco Montepio to appoint former head of the Tax Authority as president, its fourth chief executive in a decade
José Azevedo Pereira, currently at Abanca Portugal, is the next president of Banco Montepio. The Montepio association had been expressing some displeasure, but the opposition wanted to discuss his profile before the appointment.
José Azevedo Pereira is to be the next CEO of Banco Montepio
Despite public reticence from Virgílio Lima, the Mutualist Association has reportedly decided not to reappoint Pedro Leitão as CEO of Banco Montepio after his mandate expired at the end of last year. The bank is said to have settled on José Azevedo Pereira — a former director — as the successor. The move signals a leadership change at Banco Montepio that will shape its strategic direction and investor and member relations going forward.
South Korea managed to prevent Lone Star from applying the strategy used at Novo Banco
Thirteen years after the US fund Lone Star used a strategy to monetise a state-backed bank stake in Portugal (Novo Banco) — reportedly pocketing about €5bn while exiting without major penalties — South Korea intervened to stop the same playbook from succeeding at a Korean bank backed by public support. The episode highlights divergent regulatory outcomes across jurisdictions: stronger Korean safeguards and political scrutiny protected the public interest and state budget, while Portuguese arrangements enabled a lucrative, low-accountability exit for a private investor. The contrast underscores how supervision, takeover rules and fiscal exposure shape investor returns and public risk in cross-border bank restructurings.
Bank transfers will only be processed on Monday
The Bank of Portugal explains that transfers made on 25 and 26 December will only be processed on Monday, as the eurozone payment system is closed over the Christmas period.
Made a 'normal' bank transfer since 24 December? Be aware it will only be processed on Monday
The 'Target' payment system is closed over the Christmas period.
Banif: claimants denounce unfulfilled promises
The association representing those affected recalls that, despite the creation of commissions and reports, no concrete solution was ever found: “In short, everything was done... except the solution,” they say.
Banif victims request meeting with Montenegro and denounce unfulfilled promises
Those harmed by Banif accuse the State of a decade of unfulfilled promises and request a meeting with the prime minister, Luís Montenegro, criticising the current Government's lack of response in a letter seen by Lusa.
BCP cancels 309 million treasury shares and cleans up its balance sheet
BCP closed today an important chapter in its shareholder remuneration strategy and accounting reorganisation. The bank led by Miguel Maya completed the commercial registration of a 'financial engineering' operation that involved, in a single move, the reduction and subsequent increase of its share capital. The aim? To formalise the cancellation of treasury shares ...
A decade on, Banif is the fourth most costly intervention in Portuguese banking
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.
Portuguese banks among the most profitable and solid in the Eurozone
In a context where European banking is slightly stabilising profitability and keeping non-performing loans under control, Portuguese banks continue to stand out for their combination of high profitability and strong capital solidity. The latest data from the European Central Bank (ECB) on the sector shows that the three main national institutions have a ratio ...
Bank of Portugal lowers additional periodic contribution of banks to the Resolution Fund in 2026
The Bank of Portugal has maintained the rates for the Deposit Guarantee Fund (FGD).
