<b>Portugal</b>

January 01, 1999

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Headline: Portugal Source: Euromoney Date: July 2001 Best bank Banco Comercial Português Best debt house BCP Investimento Best equity house BCP Investimento Best M&A house Finantia         Jorge Jardim Gonçalves Banco Comercial Português is the dominant private bank in Portugal, with leading market shares in all banking segments. Its largest potential rival is the state-owned Caixa Geral de Depositos, which is now modernizing fast and improving its efficiency, though no date has yet been set for a privatization. Its most significant foreign competitor is Banco Totta & Açores – the combination of Totta, Crédito Predial Português and the commercial and investment banking businesses of Banco Santander. As elsewhere, local firms – whose reason for existence is undermined by regionalization and their clients’ increasingly sectoral view – are threatened by aggressive, sophisticated, efficient and acquisitive foreigners. Totta’s performance in retail, wholesale and investment banking makes it one of the best performers in the sector this year. That said, it will need another big buy to unseat the government-backed big banks.

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