BCP Millennium drags feet in indemnifying clients swindled by own employee
Raquel Godinho swindled clients to tune of €3 million The shocking story of a bank employee who swindled clients out of €3 million, before driving herself (and members of her
Bank of Portugal registers negative balance of over a BILLION euros
Almost too startling to be a ‘brief’ news item, Portugal’s central bank has registered a negative operational balance for 2023 of over a BILLION euros. This may have little connection
Experts suggest former BES boss “exaggerating” Alzheimer’s symptoms
Defence dismisses observations Former BES boss Ricardo Salgado’s potential ‘Get out of Jail’ card (his diagnosis of Alzheimer’s) appears to have been put at risk by observations by two ‘experts
Mortgage rates fall in Portugal for first time in two years
Rates in February fell to 4.641% The implicit interest rate on mortgage contracts fell in February for the first time since March 2022 – dropping 1.6 percentage points (p.p.) to
Crédito Agrícola profits more than triple in 2023 to €296.8 million
Portugal’s Crédito Agrícola group made a profit of €296.8 million in 2023, more than tripling the €87.8 million of the previous year, it said in a press release today. The
Revolut plans Portugal branch to smooth expansion into country
Already working on obtaining Portuguese IBAN Revolut, a financial technology company best known for its banking activity in the travel segment, plans to open a branch in Portugal and is
Former banker’s eight year jail term ‘confirmed’ – but unlikely to be enforced
Judges open door to sentence ‘suspension’ due to Alzheimer’s The agonising saga of whether or not former BES banking president Ricardo Salgado should go to jail for his crimes –
State bank CGD implements average 3.25% pay rise rejected by unions
Caixa Geral de Depósitos (CGD), Portugal’s state-owned savings bank, has decided to implement an average 3.25% pay increase with retrospective effect from January 1, to be paid along with this
Bank starts calling in clients with plundered fortunes
Millennium BCP banker drove off cliff, taking family with her, to avoid showdown The bizarre story of a mother of two driving off a cliff near Cascais last December, killing
Banks fear huge profits will be used in election campaign
Pre-emptively go on offensive: “We don’t need more taxes!” Bankers in Portugal “refuse to allow banks’ historic profits in 2023 to become an election issue”, writes Lusa today. Banking bosses