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Economy and Banking Sector of Portugal

Major Banks of Portugal

#1: Caixa Geral de Depósitos, SA

Caixa Geral de Depósitos (CGD) is the largest bank in Portugal, 100%-owned by the Portuguese government. CGS is a universal bank, having a substantial market share in retail and corporate banking in Portugal. CGS also provides specialized financial services, investment banking and insurance.

Services
retail banking
corporate banking
investment banking
asset management
insurance

Products

In 2018 total assets of Caixa Geral de Depósitos, SA were 88 582,67 mln EUR. In 2018 the bank's net income was 537,63 mln EUR.

Caixa Geral de Depósitos, SA is rated by Fitch, Moody's. Long-term credit rating assigned to the bank by Fitch is BB- (speculative). Long-term credit rating assigned to the bank by Moody's is Ba3 (non-investment grade speculative). Caixa Geral de Depósitos, SA participates in deposit guarantee scheme of Portugal. This scheme covers accounts up to 100,000 EUR per bank per depositor.

#2: Banco Comercial Portugues, SA (BCP or Millennium BCP)

Banco Comercial Portugues was esstablished in 1985. In 2004 Banco Comercial Portugues was rebranded as Millennium BCP and Banque BCP. Banco Comercial Portugues operates as a universal bank, providing a broad range of retail, private, corporate and investment banking products and services.

Services
retail banking
private banking
corporate banking
investment banking
insurance

Products

In 2018 total assets of Banco Comercial Portugues, SA (BCP or Millennium BCP) were 75 922,10 mln EUR. In 2018 the bank's net income was 422,46 mln EUR.

Banco Comercial Portugues, SA (BCP or Millennium BCP) is rated by Fitch, Moody's. Long-term credit rating assigned to the bank by Fitch is BB- (speculative). Long-term credit rating assigned to the bank by Moody's is B1 (highly speculative). Banco Comercial Portugues, SA (BCP or Millennium BCP) participates in deposit guarantee scheme of Portugal. This scheme covers accounts up to 100,000 EUR per bank per depositor.

#3: Novo Banco, SA

Novo Banco is a successor of Banco Espírito Santo (BES) establised in August 2014 by the Bank of Portugal as a bridge bank (or a "good bank") to rescue assets and liabilities of BES. The only owner of Novo Banco is a special bank Resolution Fund, the fund will continue to own the bank until the bank is sold to new owners. Novo Banco provides products and services in retail and investment banking, asset management and insurance.

Services
retail banking
corporate banking
insurance

Products

In 2018 total assets of Novo Banco, SA were 44 161,50 mln EUR. In 2018 the bank's net income was -1 426,58 mln EUR.

Novo Banco, SA is rated by Moody's. Long-term credit rating assigned to the bank by Moody's is Caa1 (substantial risks). Novo Banco, SA participates in deposit guarantee scheme of Portugal. This scheme covers accounts up to 100,000 EUR per bank per depositor.

#4: Banco BPI, SA

Banco Português de Investimento (Banco BPI, eng: Portuguese Investment Bank) is a head company of BPI Group, focused on corporate and retail banking activities and provision of investment banking services, asset management and insurance.

Services
retail banking
private banking
corporate banking
insurance

Products

In 2018 total assets of Banco BPI, SA were 31 568,02 mln EUR. In 2018 the bank's net income was 490,64 mln EUR.

Banco BPI, SA is rated by Fitch, Moody's. Long-term credit rating assigned to the bank by Fitch is BB (speculative). Long-term credit rating assigned to the bank by Moody's is Baa3 (lower medium grade). Banco BPI, SA participates in deposit guarantee scheme of Portugal. This scheme covers accounts up to 100,000 EUR per bank per depositor.

#5: Banco Santander Totta, SA

Banco Santander Totta is a Portuguese commercial Bank, tracing its roots back to 1843 and is one of the largest banks in Portugal. In Portugal Banco Santander Totta operates as a universal bank, offering retail, private, corporate and investment banking products and services. London Branch of Banco Santander Totta, established in 1993, specializes in non-resident mortgages.

Business Focus
universal banking

In 2018 total assets of Banco Santander Totta, SA were 51 515,30 mln EUR. In 2018 the bank's net income was 499,95 mln EUR.

Banco Santander Totta, SA is rated by Fitch, Moody's. Long-term credit rating assigned to the bank by Fitch is BBB (good credit quality). Long-term credit rating assigned to the bank by Moody's is Baa3 (lower medium grade). Banco Santander Totta, SA participates in deposit guarantee scheme of Portugal. This scheme covers accounts up to 100,000 EUR per bank per depositor.

See Also