“How could a bank regulator ‘miss’ the sharp practices of 14 national banks?”
This is the question that has inflamed left-wingers as the country is suddenly immersed in electioneering. With less than a month to go before the country goes to the polls,
14 banks fined €225 million for ‘concerted practices’
After an exhaustive, long-running investigation, Portugal’s competitions authority AdC has fined 14 banks a total of €225 million euros for concerted practices of exchanging sensitive commercial information on credit products.
Further jail sentences handed out as BPN fraudsters remain free
A Lisbon court has handed out further stiff jail terms for fraudsters involved in the BPN banking scandal, but the likelihood of any of them going to jail remains slim.
BPP’s guilty bankers “pay their way out of jail”
Four years since their trial started, over eight years since the banking fraud was discovered, BPP’s former top men, principally João Rendeiro, Paulo Guichard and Salvador Fezes Vital, have all
CGD ‘horror stories’ fill Portuguese news as finance minister (and PM) end up with egg-on-face
With horror stories of alleged dodgy dealings, debts sanctioned to the tune of hundreds of millions of euros and meetings organised to ‘change the law’ in directors’ favour, State Bank
TVI condemned over catastrophic banner-story that Banif was closing
Press regulator ERC has condemned TVI for “not contacting the interested parties” before going live on December 13 with information that Banif bank was closing. The precipitous story, which TVI
ISEG report highlights dangers of “excessive association” between politicians and banks
A report compiled by researchers from Lisbon’s ISEG business school claims Portugal’s politicians are much too chummy with the banking sector. It’s a form of “excessive association” that actually compromises
Portugal faces budget amendment as it reaches deal to pump €2.7 billion into state bank CGD
A deal to recapitalise state bank Caixa Geral de Depósitos (CGD) to the tune of €5.1 billion means amendments will have to be made to Portugal’s budget. The government has
Portugal’s private banks lose €1.4 million every day
With Lisbon’s institute of management and economy (ISEG) finally predicting growth within the Portuguese economy, albeit slow, the country’s private banks are showing the opposite tendency once again registering millionaire
2500 jobs to be axed in CGD bank restructuring plan
After all the dire news about its financial situation, the government’s ‘restructuring plan’ for State bank Caixa Geral de Depósitos has been approved, and it confirms the slashing of up