The Portuguese banking system includes 149 credit institutions: 59 commercial banks, 86 mutual agricultural savings banks and 4 savings banks. Overall there are 4,326 domestic branches, 14,075 ATMs, 11,372 Multibanco ATMs and 284,600 POS. According to Banco de Portugal, the banking sector's total assets, deposits and loans reached €384.4 billion, €255 billion and €228 billion, respectively, in the third quarter of 2018. Banks in Portugal are usually open from 8:30 am to 3:00 pm, Monday through Friday, and are closed on weekends and public holidays. Banco de Portugal (or Bank of Portugal), founded on November 19, 1846, is the central bank of the country. Below is a list of the largest and best banks in Portugal.
Caixa Geral de Depósitos
Caixa Geral de Depósitos (GDP), headquartered in Lisbon, is the largest bank in Portugal with assets of over €89 billion, loans of €51.6 billion and deposits of €63.4 billion. It provides retail, commercial and investment banking services including deposits, loans, specialized credits in the areas of factoring and leasing, asset management, real estate services, mobile and online banking and more. Established in 1876, GDP Group has about 1,070 branches and serves 3.8 million clients in Portugal (37% of population) and 2 million Caixadireta customers. With over 15,000 staff including 7,675 employees in Portugal, the company has operations in 20 countries in four continents. New York, Macau Offshore, Cayman, Zhuhai and London branches were closed as part of the strategic plan. Caixa Geral de Depósitos has long term deposit rating of Ba1 from Moody's and long term issuer default rating of BB from Fitch.
Banco Comercial Portugues
Banco Comercial Portugues, S.A. (BCP or Portuguese Commercial Bank), headquartered in Porto, is the largest private bank in Portugal, with focus on retail segment. Millennium BCP is a trademark of Banco Comercial Português. The Bank is part of the Investor Compensation Scheme and Deposit Guarantee Fund. Founded in 1985, it operates about 600 domestic branches (including 1 branch in Macao), over 500 branches abroad (Poland, Switzerland, China, Angola and Mozambique) and employs 15,700 staff. The Bank has been ranked by Global Finance as the Best Foreign Exchange Bank in Portugal. As of September 30, 2019, BCP had a market capitalization of US$3.2 billion.
Banco Santander Totta
Banco Santander Totta S.A., a subsidiary of Spanish Santander Group, is the third largest bank in Portugal in terms of total assets. With approximately 7,000 employees, it serves 4.7 million customers through 640 branches across the country. In 2015-2017, Santander acquired Banco Internacional do Funchal (Banif) and Banco Popular Portugal.
Novo Banco, S.A., founded in 2014, is a successor of Banco Espírito Santo (BES) which was the second largest private bank in Portugal. With over 5,000 employees, it operates through a network of about 400 branches including 21 branches internationally. Novo Banco closed its branches in New York, Nassau and Cape Verde as well as sold Novo Banco Asia in Macau, branch in Venezuela, and is currently in the process of closing its London branch. As of September 30, 2018, Novo Banco reported €52.6 billion in total assets, €30.3 billion in customer deposits and €25 billion in loans.
Portuguese Investment Bank
Banco Português de Investimento (Banco BPI or Portuguese Investment Bank) is the fifth largest bank in Portugal. Established in 1981, it operates as a subsidiary of Spanish credit institution CaixaBank (formerly La Caixa). With 4,890 employees, Banco BPI serves over 1.7 million retail and business customers through 421 branches, 40 investment centers, 34 corporate and institutional centers, 1 mobile unit branch, 1,340 ATMs and about 31,000 POS terminals. In 2018 new mortgage loans reached €1.3 billion. CaixaBank Group currently holds 100% of BPI's shares.
Banco Montepio (Caixa Economica Montepio Geral (CEMG)) is one of the top 10 banks in Portugal with customer deposits of €12.4 billion. Montepio is a savings bank founded in 1844 and headquartered in Lisbon. The Bank employs 3,860 people and operates 324 domestic branches, 990 ATMs, 34 international branches (including Finibanco Angola and BTM (Mozambique)) and 5 representative offices. The company was delisted from Euronext stock exchange in 2017. Banco Montepio is owned by Montepio Geral – Associação Mutualista, country's largest mutual association.
Crédito Agrícola Group
Crédito Agrícola is one of the leading Portuguese financial groups with over 1 million customers, 350,000 members, 659 branches and over 1,500 ATMs across Portugal. In 2018, the company’s market share accounted for over 5% of loans and 7.2% of deposits. Crédito Agrícola Group includes 80 local banks (Caixas Agrícolas), Caixa Central, specialized companies and FENACAM. As of June 30, 2018, the Group had total net assets of €18.3 billion and loans of €8.1 billion.
Banco Finantia, S.A. is an independent financial institution offering corporate, private and investment banking products including financial advisory services, capital markets, term deposits, CD's, investment funds, portfolio management, securities brokerage and much more. It was awarded as Best Private Bank in Portugal and Best Corporate Bank in Portugal (Global Banking & Finance Awards) and Best Investment Bank in Portugal by International Business Magazine. With a strong presence in Portugal and Spain, Finantia has brokerage firms in London (UK), New York, Miami (USA) and offices in Malta and Brazil. As of March 31, 2019, Banco Finantia had total assets of €2.1 billion and total shareholder’s equity of €428 million.
Subsidiaries and Branches of Foreign Banks in Portugal
Banco Bilbao Vizcaya Argentaria (Portugal), S.A.
Banco BPI, S.A.
Banco Credibom, S.A
Banco Santander Consumer Portugal, S.A.
Banco Santander Totta, S.A.
Haitong Bank, S.A.
Bankinter, S.A. – Sucursal em Portugal
BNP Paribas – Sucursal em Portugal
BNP Paribas Securities Services, S.A. – Sucursal em Portugal
Deutsche Bank, AG – Sucursal em Portugal