Portugal: Banking sector ‘has improved’ – Central bank

Page created: Wednesday, 28 June 2017 9:38 GMT

Banking Sector  Portugal

Lisbon, Jun. 27 (Lusa) A Bank of Portugal board director said on Tuesday that there have been improvements in the Portuguese financial system, but there were still some unresolved questions such as the sale of Novo Banco and its effect on the Resolution Fund.

On the other hand, Mr Máximo dos Santos stressed that despite the improvements the European banking industry was still unstable, as shown by the resolution of Spanish Banco Popular Espanha, the Single Resolution Board decided recently.

He also said Portugal’s central bank had managed to completely safeguard the stability of its branch in the country.

The also referred to the two Italian banks that had to be rescued by the authorities in recent days and that the Bank of Portugal had begun an internal reflection on these events to see what lessons could be learnt.