BPI keeps its options open

Portuguese Banking: Carving out a new role

Slim pickings for foreigners

BCP looks at life after Emu

At Banco Português de Investimento, banking consolidation is a major preoccupation of board member Vitor Constâncio. There’s been some merger activity, but not as much as necessary, he says. BPI itself is the result of several Portuguese banks merging, but it’s still only the fifth-largest group in the local market.

Constâncio doubts whether a domestic merger would suffice. “Even to reach their present size Portuguese banks have required a major investment of foreign capital,” he says.