Portugal’s banks consider their next move | CGD: a domestic retail focus | Euronext: internationalizing Portugal
In 1985 – just one year before Portugal joined the EU and a decade after democracy arrived in the country – a group of businessmen created Millennium BCP. It is now not only one of Portugal’s largest banks but also its largest private company. And the lessons it has learned through the growth of its own operations and the Portuguese economy have given it vital knowledge about how markets develop.
In recent years, Millennium BCP has made a concerted effort to grow outside Portugal and make use of that knowledge – described by Paulo Teixeira Pinto, chairman and chief executive, as “exportable key competitive advantages”. He says that Millennium BCP’s skills in retail financial business, post-acquisition restructuring and experience in management during periods of upheaval...
