Overview of Banks in Portugal
The central monetary authority that oversees banks in Portugal is Banco de Portugal. It is a member of the European System of Central Banks (ESCB). Portugal, a member of the European Union, operates a modern banking system that offers advanced financial products. In fact, it oversees one of the world’s most advanced interbank networks.
Moody’s Investors Service maintains a stable outlook on for banks in Portugal. The rating agency predicts that asset quality and capital in the country’s banking system will post a stable but weak growth. However, with the increase in investments and exports that will propel GDP growth, Moody’s expects to see an improvement in banks in Portugal over the outlook period.
For anyone considering a career in banking in Portugal, this list of top banks in Portugal is a helpful guide on where to start. To learn more, see our list of financial institutions.
The top banks in Portugal are:
Caixa Geral de Depósitos
Founded in 1876 in Lisbon, state-owned financial institution Caixa Geral de Depósitos (CGD) is the largest of the banks in Portugal in terms of total assets, and the country’s largest public-sector banking corporation. It also ranks 109th on the list of major banks in the world and is the 69th largest European bank.
The bank operates through branches, representative offices, and direct equity interest in local financial institutions in 23 countries located on four continents.
Revenue: 1.15 billion euros (2017)
Net income (loss): (49.9 million euros) (2017)
Total assets: 96 billion euros (2017)
Banco Santander Totta S.A.
Banco Santander Totta S.A. is the second-largest private bank in Portugal in terms of total assets. With headquarters in Lisbon, it employs 6,300 staff in more than 650 branches.
The Portuguese bank traces its roots back to 1843 when it was formerly known as Banco Totta & Açores and Banco Totta later. Global Finance named Banco Santander Totta S.A. the Safest Bank in Portugal, while Euromoney recognized it as the Best Bank in Portugal.
Revenue: 1.17 billion euros (2016)
Net income: 380 million euros (2016)
Total assets: 45.73 billion euros (2016)
Banco Comercial Portugues
With more than 695 branches in Portugal and servicing almost 4.3 million customers all over the world, Banco Comercial Portugues is the largest of private banks in Portugal in terms of market share. It was established in 1985 by Jardim Gonçalves and investors from the Porto region. The bank’s headquarters is in Oeiras, Greater Lisbon.
Revenue: 2.2 billion euros (2017)
Net income: 290 million euros (2017)
Total assets: 72.67 billion euros (2017)
Banco Internacional do Funchal
Banco Internacional do Funchal, S.A. was founded in 1988, offering a wide range of banking and financial products and services, including retail, commercial, and investment banking. Headquartered in Lisbon, the bank operates not only within the country but also in the rest of the European Union, Latin America, and North America.
Revenue: 15.35 million euros (2016)
Net income: 2.1 million euros (2016)
Total assets: 523 million euros (2016)
Banco Popular Portugal
Formed in 1991, Banco Popular Portugal was formerly known as BNC-Banco Nacional de Crédito, S.A. In 2005, the bank changed its name to Banco Popular Portugal, S.A. Based in Lisbon, it is a subsidiary of Banco Popular Español, S.A.
Banco Popular provides services to private citizens, self-employed people, SMEs, private welfare institutions, large corporations, financial institutions, and the public administration sector, operating through retail and commercial banking, as well as other segments, in 118 branches.
Portuguese bank Nova Banco offers retail and investment banking, insurance, asset management, and venture capital services. In 2014, it was introduced to the Bank of Portugal to rescue Banco Espiritu Santo, one of the oldest and most reputable private banks in Portugal. Novo Banco’s headquarters is in Lisbon.
As of 2017, the bank managed a network of 576 domestic branches and 30 international branches and employs a total of 6,325 individuals in Portugal and other countries.
Revenue: 436.6 million euros (H1 2017)
Net income (loss): (371.4 million euros) (H1 2017)
Total assets: 55.27 billion euros (H1 2017)
Banco Português de Investimento (BPI)
Commercial banking group Banco Português de Investimento (BPI) specializes in home loans through different outside companies. It oversees 674 branches, servicing over 1.4 million customers, individuals, businesses, and institutions.
The bank maintains a presence not only in Portugal and Spain but also in countries such as Angola where it is the market leader in corporate banking, and Mozambique where it owns 30% shares of the bank BCI Fomento. It was founded in 1981 with headquarters in Porto.
Revenue (BPI Group): 716.6 million euros (2016)
Net income (BPI Group): 313.2 million euros (2016)
Total assets (BPI Group): 38.29 billion euros (2016)
Caixa Central de Crédito Agrícola Mútuo, C.R.L.
Headquartered in Lisbon, Caixa Central de Crédito Agrícola Mútuo, C.R.L. provides a range of banking products and services including commercial and retail, investment fund and asset management, insurance, and consultancy services. The bank comprises Commercial/Retail Banking, Investment Fund and Asset Management, Insurance, and Consultancy segments.
Banco Privado ATLANTICO – Europa
Founded in 2009, European bank ATLANTICO Europa operates as a subsidiary of Atlantico Financial Group S.A. Based in Lisbon, it provides a wide range of banking products and services for individuals and companies in more than 50 countries.
The ATLANTICO brand was formed in 2006. It established a presence among the banks in Portugal as Banco ATLANTICO Europa, in accordance with its goal of becoming a global brand. It currently serves about 10,156 customers and employs about 129 individuals.
Revenue: 23.02 million euros (2016)
Net income: 5.12 million euros (2016)
Total assets: 1.27 billion euros (2016)
Banco Finantia, S.A.
Headquartered in Lisbon, Banco Finantia, S.A. is a subsidiary of Finantipar-S.G.P.S., S.A. The bank provides private, corporate, and investment banking solutions in Portugal and in other countries. It also operates a branch in Spain, an office in Brazil, and brokerage firms in London and New York.
The group’s private banking activities are focused on the Iberian Peninsula, while its corporate and investment banking solutions are centered in the Iberian Peninsula/Latin American corridor and in the markets of Turkey, Russia, and the Commonwealth of Independent States.
Revenue: 79.9 million euros (2016)
Net income: 30.7 million euros (2016)
Total assets: 1.81 billion euros (2016)
Careers in investment banking
To break into investment banking, there are several important things to focus on. These include networking, resume, experience, and financial modeling skills. To learn more, explore our interactive career map…. For banking careers, you will have a significant edge over the competition with our financial modeling courses.
This has been CFI’s guide to the top banks in Portugal. For anyone looking for a career in banking, this list is a great place to start your networking. Please also see these additional resources: