Central bank governor warns of more interest rate pain to come
Governor of the Bank of Portugal Mário Centeno has warned there will be more hikes in interest rates before they start coming down. A few hours before the Bank of
Novo Banco and Banco Best condemned to pay €200,000 to customer sold BES bonds
Court rules customer was hoodwinked; banks believe they will win on appeal The Court of Póvoa do Varzim has ruled in favour of a customer who accused Novo Banco and
PM stresses ‘need to conclude EU banking union’ to reduce market risks
Portugal’s prime minister, António Costa, insisted today on the need to conclude the process of transferring responsibility for banking policy within the European Union from national to EU level ‘in
For 5th time a judge refuses Alzheimer’s request by defence of Ricardo Salgado…
Yet another judge involved in cases pending against former banker Ricardo Salgado has dismissed defence counsels’ request for the realisation of an independent medical inquiry into Mr Salgado’s condition of
DECO warns one in four families hoping for mortgage support won’t qualify
Following the government’s announcements yesterday over support being offered to families unable to make mortgage payments, consumer association DECO warns of the small print in the resolution, which will, it
Banks must offer fixed-rate mortgages
Government moves forwards on least controversial measures of ‘Mais Habitação’ housing policy Just as the ECB announces a new hike in interest rates, the Portuguese government has approved a measure
Former Socialist minister and banker gets another five years in jail
Armando Vara has had another really bad day. The former PS minister for sport who went on to vice-chairman of Millennium bank (and then be prosecuted for influence peddling) has
Recognition for “the only BES banker who said sorry”
José Manuel Espírito Santos dies after prolonged illness There has been recognition this weekend over the death of former BES banker José Manuel Espírito Santo, 77. “He was the only
Number of foreigners seeking bank loans rising
The proportion of foreign people in credit granted by banks grew between 2021 and 2022, representing more than 16% of credit granted to people between the ages of 41 and
Brussels closes restructuring plan for Novo Banco
Gravy train of public money “stops now” The European Commission informed the Portuguese state on Monday of its intention to consider the restructuring process of Novo Banco, which began in