Banif resolution could cost Portugal €3.7 billion
It is a grim forecast that many were already aware of but which has taken its toll on upwards of 50,000 small investors, who believed a bank owned in large
“Disastrous” sale of Banif bank hides €79 million in court actions
As the dust settles on what has been variously described as the “disastrous” and “catastrophic” sale of Banif Bank to Spain’s Santander Totta, news sources have been reporting on the
BANIF BOMBSHELL
With branches of Banif bank still being besieged by panicked customers on Wednesday, Portugal’s press has finally woken up to the fact that this is yet another national ‘banking disaster’
Historic losses on Portuguese stock exchange as Banif Bank reported “insolvent”
A television report suggesting that the Portuguese government is about to bailout Madeira’s Banif Bank has led to historic losses on the stock exchange and ominous rumblings from ratings agency
DECO slams banks, saying it is better to “keep your money under you mattress”
A study by consumer watchdog DECO has found that it is better to “keep your money under the mattress” than to make a deposit at the bank. The association looked
Portuguese banks tot up profits of €542 million
With banks in Portugal shedding staff at an exponential rate, the good news for the sector is that six of the country’s leading institutions have recorded joint profits of almost
Banks fail clients over retirement plans, says DECO
Consumer watchdog DECO is publishing a damning report that shows Portugal’s five principal banks all fail clients looking for solid retirement plans. State bank CGD, along with BPI, Millennium BCP,
Sócrates’ luxurious house arrest in building still registered as “warehouse”
No sooner was he ensconced under house-arrest in Lisbon than Portugal’s media has been looking behind-the-scenes at the unexplained luxury of Sócrates’ new address. Described still as a “barracão” (shed)
Justice ministry goes full steam ahead “repairing 31 court buildings for winter”
After its annual summer recess the Justice Ministry has returned to work with a bang. It has nothing to do with the thousands of cases piling up to be dealt
SPANISH BANK BUYS BARCLAYS PORTUGAL FOR €100 MILLION
Spanish bank Bankinter has bought Barclays retail banking business in Portugal for €100 million. It is a deal which represents losses for Barclays of “around €272 million” as it absorbs