Portuguese Banking: Carving out a new role
Portugal first appeared on most investment banks’ radar screens in the mid-1990s, when the government’s privatization policy began – although a few like Deutsche have been there much longer. Despite extreme efforts, these banks are still struggling to find clients.
Lending to Portuguese corporates should, in theory, be an ideal loss-leader for foreign banks looking for relationships, particularly now they no longer have to take exposure to the escudo to do that lending.
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