Banks in Portugal

Portugal’s banking system is highly concentrated, with a small number of large institutions holding the bulk of banking assets. The state-owned Caixa Geral de Depósitos is the biggest bank in the country. Portuguese banks are normally open from 8:30 am to 3:00 pm, Monday through Friday except for holidays.

Banco Best – A financial institution operating in the areas of banking, asset management and trading.

Banco Bic Português, S.A. was incorporated in January 2008 and later traded under the brand EuroBic. Its former website, eurobic.pt, now redirects to that of ABANCA Portugal, S.A., the Portuguese arm of the Spanish group Abanca; the bancobic.pt domain no longer resolves.

Banco Comercial Portugues (Millennium BCP) – The largest Portuguese private bank in terms of market share. As at March 31, 2017, it had total assets of EUR 72 billion and operated over 600 domestic branches. Its market capitalization stood at EUR 4.5 billion on May 10, 2018.

Banco Credibom, S.A. – A member of the Crédit Agricole Group.

Banco CTT – A retail bank trading under the brand of the Portuguese postal operator CTT – Correios de Portugal. Its corporate name is Banco CTT, S.A., registered with the Banco de Portugal under number 193.

Banco de Portugal – The central bank of the Portuguese Republic. It was founded in November 1846 and is headquartered in Lisbon. It also has branch in Oporto, a number of agencies in mainland Portugal and two regional delegations.

BNP Paribas Portugal – One of the largest foreign banks in the country.

Banco Espírito Santo (BES) was the largest Portuguese bank by market capitalization and the second largest private-sector bank by assets and loans. BES operated in 25 countries and employed over 9,800 people. It was closed in 2014 and its healthy businesses were transferred to Novo Banco.

Banco Primus, S.A. – A wholly owned subsidiary of Crédit Foncier, the leading mortgage bank in France and a member of BPCE.

Banif Financial Group was a Portuguese international financial institution founded in 1988 following the take-over of Caixa Económica do Funchal. In 2015 Banif was acquired by Banco Santander Totta, the Portugal's second largest private bank after BCP Milenium.

Banco Nacional Ultramarino (BNU) ceased existence as an independent entity in Portugal following its merger with Caixa Geral de Depósitos in 2001. It continues operations under the Banco Nacional Ultramarino brand in the Chinese SAR of Macau.

Banco Português de Investimento (Banco BPI) – One of the largest banks in Portugal and part of the Spanish CaixaBank group.

Banco Português de Negócios (BPN) was Portuguese financial institution established in 1993. It was nationalized in conformance with the provisions of Law no. 62-A/2008, of 11 November 2008. BPN was sold to Banco BIC Portugues in 2012.

Banco Santander Totta – One of the leading banks in Portugal. Its corporate name is Banco Santander Totta, S.A. and it forms part of the Santander group.

Bankinter Portugal – The Portuguese arm of the Spanish banking group Bankinter.

BBVA Portugal – The Portuguese operation of the Spanish group BBVA, created in June 1991.

Caixa Económica Montepio Geral (CEMG) – A savings bank held by Montepio Geral Associacao Mutualista (MGAM). The company was established in 1844 and is headquartered in Alfragide, Portugal.

Caixa Geral de Depósitos (CGD) is a state-owned financial institution and one of the largest banks in Portugal. Its total assets were EUR 96 billion as at June 30, 2017.

Espírito Santo Financial Group (ESFG) was Portuguese financial services holding company with headquarters in Luxembourg. It had a leading position in the banking and insurance markets in Portugal. The company is in liquidation.

novobanco (formerly Novo Banco) was established in August 2014 to take over the sound assets of the failed Banco Espirito Santo (BES), the country’s second largest lender. It is the fourth largest bank in Portugal and forms part of the French group BPCE.