Table of Contents
Introduction
As a country, Portugal is famous for its history, its stunning landscapes as well as its vibrant culture. But it is also a country with a quite developed banking system which is an important part of the country’s economy. In this article, we will introduce you to the top 10 banks of Portugal, their features and the services they provide. If you are a resident or planning to invest in Portugal, then this article will be helpful to you in understanding the banking system of the country.
1. Banco Comercial Português (BCP)
Banco Comercial Português or BCP is one of the biggest banks in Portugal and was founded in 1985. It has since gained a good reputation for being efficient and customer friendly. The bank provides a number of products and services such as private and corporate banking, investment products and insurance services.
BCP is quite large with many branches and ATMs in Portugal and is also present in other countries like Angola, Mozambique, and Poland. This is evidence of their creativity in the digital banking platform to enhance the convenience of account access.
2. Caixa Geral de Depósitos (CGD)
Caixa Geral de Depósitos, or CGD, is the biggest state owned bank in Portugal and was established in 1876. CGD offers banking products and services such as savings and checking accounts, loans, mortgages and investment products and is one of the big players in the Portuguese banking system.
With a large number of branches in the country and internationally, CGD is convenient to access. The bank also engages in various social initiatives, showing a deep commitment to community support.
3. Novo Banco
Nuevo Banco was founded in 2014 and is a new bank that is able to claim its roots in banking following the resolution of Banco Espírito Santo (BES). Although it has been in existence for only a decade, it has established itself as a customer oriented bank with new and unique digital banking solutions.
Personal and business banking are offered by Novo Banco and it has a large number of branches and ATMs in Portugal and other countries including Spain, France and the UK.
4. Santander Totta
Santander Totta is the Portuguese branch of Banco Santander and has been in business since 1843 and is one of the biggest and most reputable banks. Santander Totta still remains one of the biggest banks in Portugal and provides its clients with a wide range of banking products and services: personal, business, investment, and insurance.
The bank has a good digital banking platform that helps the customers to navigate through their accounts.
5. Millennium bcp
Millennium bcp has been in business since 1985 and is one of the big banks in Portugal. It provides services ranging from personal banking to sale of insurance products.
Their strong presence in Portugal and other countries like Angola and Mozambique and their focus on customer service and development through their digital banking platform show their determination to grow.
6. Crédito Agrícola
Crédito Agrícola was established in 1911 and is a cooperative bank that is dedicated to the agricultural sector in Portugal. It provides a full range of banking products and services such as savings and checking accounts, loans, and investment products.
Its presence in the rural areas combined with the availability of digital banking products and services shows its dedication to supporting local communities and sustainable farming.
7. Banco BPI
Banco BPI is one of the oldest banks in Portugal, with a history dating back to 1891. It offers a wide range of banking services, including personal and business banking, investment solutions, and insurance products. Banco BPI has a strong presence in Portugal, with a network of branches and ATMs across the country.
Banco BPI is known for its commitment to corporate social responsibility. It actively supports various social, cultural, and environmental initiatives. Banco BPI's digital banking platform provides customers with convenient and secure access to their accounts.
8. Montepio Geral
Montepio Geral is a mutual savings bank that has been serving the Portuguese population since 1840. It offers a wide range of banking services, including savings accounts, loans, mortgages, and investment products. Montepio Geral has a strong presence in Portugal, with a network of branches and ATMs across the country.
Montepio Geral is committed to social responsibility and actively supports various social and cultural initiatives. It also has a digital banking platform that allows customers to access their accounts and perform transactions online.
9. EuroBic
EuroBic is a relatively new player in the Portuguese banking sector, having been established in 2008. It offers a wide range of banking services, including personal and business banking, investment solutions, and insurance products. EuroBic has a strong presence in Portugal, with a network of branches and ATMs across the country.
EuroBic is known for its customer-centric approach and innovative digital banking solutions. It has a digital banking platform that provides customers with convenient and secure access to their accounts. EuroBic also offers personalized financial advice to help customers achieve their financial goals.
10. Bankinter
Bankinter is a Spanish bank that has a presence in Portugal. It offers a wide range of banking services, including personal and business banking, investment solutions, and insurance products. Bankinter has a network of branches and ATMs in Portugal, making it easily accessible to customers.
Bankinter is known for its commitment to innovation and digital banking solutions. It has a digital banking platform that provides customers with convenient and secure access to their accounts. Bankinter also offers personalized financial advice to help customers make informed financial decisions.
Conclusion
The top 10 banks in Portugal offer a wide range of banking services to cater to the diverse needs of individuals and businesses. Whether you are looking for personal banking solutions, investment opportunities, or insurance products, these banks have you covered. With their strong presence in Portugal and commitment to innovation, these banks are well-equipped to meet the evolving needs of their customers.
When choosing a bank in Portugal, it is important to consider factors such as the range of services offered, accessibility, and customer service. By doing thorough research and comparing the offerings of different banks, you can make an informed decision that aligns with your financial goals and preferences.
Remember, the banking landscape is constantly evolving, and new players may emerge in the future. Stay updated with the latest developments in the Portuguese banking sector to ensure that you are making the most of the available opportunities.
