What is the best and safest bank in Portugal?
- Portugal Business News - Valerie Charoux
- Nov 12, 2023
- 1 min read
Portugal investment news - What is the best and safest bank in Portugal? The most profitable banks in Portugal are not the safest ones, since two of these banks, Novo Banco and Millennium BCP, are in the red due to accumulated losses during the period 2011 to 2017.
These are the Top 4 best and safest banks in Portugal:
No 1 – Santander
The best private bank in Portugal has not only registered profits of Euros 621.7 million for the first nine months of 2023, but it is also well in the Green and the safest bank in the country.
No 2 – Caixa Geral de Depósitos (CGD)
The Portuguese public bank has not only registered a net result of Euros 987 million for the first nine months of 2023, that is 42.6% higher than the same period the previous year, but it is also in the Green and therefore the second safest bank in Portugal.
No 3 – BPI
The second-best private bank in Portugal has registered profits of only Euros 390.4 million, but it is in the Green and therefore one of the safest banks in Portugal.
No 4 – Millennium BCP
While Millennium BCP has registered record profits of Euros 650.7 million, that is 624% higher than the same period the previous year, it is still in the red and therefore more vulnerable to external shocks.
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