Latest articles from Portugal

Antonio Ramalho teaser

Novo Banco’s chief executive takes a lesson from history

April 3, 2017

The chief executive of Portugal’s Novo Banco, António Ramalho, tells Peter Wise why 2017 will be the final year in its search for a controlling shareholder, and how he is easing the burden of non-performing loans.

Jose Maria Ricciardi

BESI finds a new lease of life under Haitong Securities

June 1, 2016

The former head of Banco Espírito Santo’s investment arm, José Maria Ricciardi, talks to Stefania Palma about the parent bank’s turbulent last days and how he hopes to exploit its established European network in his new position as the chief executive of Haitong Bank.

Portuguese capital markets back from the brink

Portuguese capital markets back from the brink

April 1, 2016

Portugal's economy has endured a torrid few years and this has been reflected in its activity in the capital markets. However, the past 12 months have seen reasons for optimism, with the benchmark 10-year debt yield dropping significantly from an all-time high in 2012 and economists cautiously welcoming the new government's financial policies.

A mixed picture for Portugal

Past problems dampen mood as Portugal's banks return to profit

April 1, 2016

After years of unprofitability, the Portuguese banking sector is finally getting back on its feet. But, with the sale of Novo Banco by the Bank of Portugal still outstanding and other lenders vulnerable to takeover, the sector may not be out of the woods yet.

Haitong eyes further expansion image

Haitong eyes further expansion after buying Portugal's BESI

February 1, 2016

Two months after finalising Haitong Securities' acquisition of Novo Banco's investment banking unit, now called Haitong Bank, the parent company's deputy CEO and the UK head of the new bank talk about the acquisition, their international growth plans and what a jittery renminbi means to them. 

Portugal’s banks turn a corner

November 30, 2015
teaser 2

Lower provisions and a resurgent economy are helping Portuguese banks to become profitable again

Portuguese banks weather the storm

Portuguese banks weather the storm

April 1, 2015

Portugal’s banks may be battling an economic downturn and the after-effects of the Banco Espírito Santo collapse, but they are still preparing for a return to profitability. 

Portugal economy

On the up: but is Portugal's economic recovery here to stay?

April 1, 2015

Portugal has endured a painful economic rescue programme following its bail-out, but now markets are slowly recognising that the country's economy has bottomed out and growth is forecast. 

Espirito Santo crisis highlights continued struggle in periphery

August 22, 2014
Banking sector performance in crisis countries

The crisis at Portugal’s Banco Espirito Santo has raised fresh doubts about the recovery of banks in the peripheral eurozone.

Banco Espírito Santo exposes frailty of eurozone

August 1, 2014

Concerns over the health of Banco Espírito Santo, Portugal's largest listed bank by assets, set familiar-sounding alarm bells ringing across Europe. While short-term fears over the lender's future have been allayed, its ownership structure and ties with its parent company are coming under increasing scrutiny.

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