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Top Banks in Portugal

An overview of Portugal's leading financial institutions

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.

 

Banks in Portugal

 

In April 2021, Moody’s Investors Service changed its outlook on banks in Portugal from negative to stable, reflecting stronger economic conditions as the region recovers from the coronavirus pandemic. They expect that any deterioration in Portuguese banks’ asset risk will be moderate and that their profits will pick up as European economies recover following a sharp fall in real GDP during the COVID-19 crisis.

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:

 

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. In 2020, it ranked 179th on the list of major banks in the world according to “The Banker.”

The bank operates through 948 branches, representative offices, and direct equity interest in local financial institutions in 23 countries located on four continents.

Net income: EUR 491.6 million (2020)

Total assets: EUR 96.29 billion euros (3/2021)

 

Banco Santander Totta S.A.

Banco Santander Totta S.A. is the third-largest private bank in Portugal in terms of total assets. With headquarters in Lisbon, it employs 6,000 staff in more than 497 branches.

The Portuguese bank traces its roots back to 1864 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.

Net income: EUR 257.75 million (2020)

Total assets: EUR 54.40 billion (2020)

 

Banco Comercial Portugues

With more than 1,380 branches in Portugal and servicing almost 4.3 million customers all over the world, Banco Comercial Portugues is the second largest of private banks in Portugal in terms of total assets. It was established in 1985 by Jardim Gonçalves and investors from the Porto region. The bank’s headquarters is in Oeiras, Greater Lisbon.

Net income: EUR 183.01 million (2020)

Total assets: EUR 88.57 billion (3/2021)

 

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 within the country and 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.

 

Novo Banco

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 Portugal’s oldest and most reputable private banks. Novo Banco’s headquarters is in Lisbon.

As of 2019, the bank managed a network of 387 domestic branches and four international branches and employed a total of 4,582 individuals in Portugal and other countries.

Net income: EUR1.33 million (2020)

Total assets: EUR 44.40 billion (2020)

 

Banco BPI

Commercial banking group Banco Português de Investimento (BPI) specializes in home loans through different outside companies. It oversees 883 branches, servicing over 1.4 million customers, individuals, businesses, and institutions.

The bank maintains a presence in Portugal and Spain and in countries such as Angola, where it is the market leader in corporate banking, and in Mozambique, where it owns 30% shares of the bank BCI Fomento. The company was founded in 1981 and is headquartered in Porto, Portugal. Banco BPI, S.A. operates as a subsidiary of CaixaBank, S.A.

Net income: EUR 104.77 million (2020)

Total assets: EUR 37.79 billion (2020)

 

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.

Net income: EUR 115.47 million (2019)

Total assets: EUR 18.47 billion (2019)

 

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.

Net income: EUR 5.12 million (2016)

Total assets: EUR 1.27 billion (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.

Net income: EUR 23.69 million (2020)

Total assets: EUR 2.11 billion (2020)

 

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:investment banking careers For banking careers, you will have a significant edge over the competition with our financial modeling courses.

 

Additional Resources

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:

  • Top Banks in Spain
  • Top 100 Investment Banks
  • Investment Banking Interview Questions
  • Financial Modeling Guide

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