Buoyancy in a weak economy

Banks are displaying considerable resilience, with their profits growing, in an economy that is climbing out of recession.By Peter Wise.Portuguese banks are nothing if not resilient. This will be the fifth year in which the economy has underperformed average EU growth. Recovery since a deep recession in 2003, when GDP growth contracted by 1.1%, has been weak and the outlook for the coming two years is less than buoyant.