Portugal’s leading banks may soon find themselves fighting a battle for profitability on two fronts. Not only are they suffering from an economic slowdown that has now become a full-blown recession; in addition Lisbon is rife with rumours of an impending assault on the market by one or more major European competitors. The speculation comes in permutations to suit all tastes, but the most widely accepted version points to the Spanish banks.
From a price perspective, this would certainly be the right time to move in on Portuguese banks.
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