Best bank: Banco BPI
The fourth-biggest bank in Portugal, which has been fully owned by Spain’s CaixaBank since the end of 2018, saw an exceptional performance in 2023. After record results for the firm across the board, Banco BPI is clear winner of the award for Portugal’s best bank.
Net profit from the Portuguese business rose 86% to a record €444 million. Overall net interest margin for the Portuguese banking sector hit 4.4% in 2023, compared with an average of 2% in the period from the global financial crisis to 2022.
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