Latest news and stories about banking sector in finance in Portugal for expats and residents.
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Álvaro Santos Pereira is contemplating a new levy on the banking sector. The government had already acknowledged at the end of last year that it would “revisit the issue of taxation in this sector,” after the solidarity tax was deemed unconstitutional.
BPI had 4,476 employees at the end of last year, 242 more than in 2024, according to the presentation of the 2025 accounts at a press conference in Lisbon today.
Abanca recorded a net profit of €902 million for 2025.
Lisbon’s PSI index has carried 2025’s strong finish into 2026, with retail, banking and energy stocks drawing the biggest investor interest despite recent volatility tied to global geopolitical developments. Analysts argue the index remains well positioned for another positive year, though they warn that elevated macro and geopolitical risk could produce bouts of market turbulence and uneven sector performance.
Unions said they had lowered their demand for a pay rise from 5.7% to 4.6%, 'a clear sign of responsibility and openness to negotiation', but they viewed the sector's response as 'offering crumbs'.
Banks have raised their proposed wage increases to 1.8%, but trade unions argue the offer falls short of workers' demands.
Abanca has launched a new voluntary redundancy programme, the second in a matter of months. In October, 77 staff from the commercial division had already left under mutual-agreement terminations and early retirements. Now it is opening the door for a further 120 central services employees to leave the bank that has just acquired EuroBic.
The national banking sector’s assessment has improved. Caixa Geral de Depósitos is the bank most favoured by the requirements. Stricter rules will apply to the sector in 2026, but the public bank avoids a reserve on real estate exposures.
