Banking industry in Portugal

Banking industry in Portugal

The banking industry in Portugal has been expanding tremendously for decades. As a result of this expansion, most of the banks in Portugal have widened the services they offer to their customers in an attempt to diversify their sources of income and increase their capital base.

Most of the services offered are now customer oriented and they aim to ensure that customers obtain loans at affordable interest rates thus stimulating the growth of the economy at large.

Below is a short review of major players in the Portuguese banking services market.

Millennium bcp

Millennium bcp is a commercial bank, one of the largest privately held bank Portugal. The bank was founded in 1985 and currently has a head office in the city of Porto.

The bank has almost 900 branches in Portugal where it offers a wide range of banking and financial services to its clients such as current accounts, savings, asset management, insurance, mortgage, lease investment banking and also facilitate payments among others.

It is evident that the bank has diversified its product in order to meet the wide-ranging customer needs.

The bank serves almost 2.3 million customers in Portugal and employs over 15000 people.


Swift code is BCOMPTPL

Banco BPI

Banco BPI is the third largest privately owned Portuguese bank. Founded in 1981, the bank is headquartered in the city of Porto.

The bank offers retail and investment banking, insurance, asset management and private loans. By 2015 the Banco BPI had employed over 8500 people.

The bank serves more than 1.5 million customers and has a network of more than 600 branches across Portugal.

The Swift code for its branches is BBIPTPL.

Banco Best

Banco Best bank was founded in the year 2001. The largest shareholders of the bank are Novo Banco (75%) and Saxo Bank (25%). The bank is based in Lisbon, Portugal and offers wide-ranging services such as savings, investment asset management, mortgage and electronic fund transfer facilities.

The bank also operates in Porto, Avera, Leiria, Braga, Faro, Evora and Espinho.


Swift code is BESZPTPL.

Banco Nacional Ultramarino

Banco Nacional Ultramarino is one of the oldest Portuguese banks. It was founded in 1864 in Lisbon. It operates mainly in former overseas Portuguese provinces.

The bank was Merged with Caixa Gera! de Depositos which is a government-owned savings bank in 2001.Its headquarters is in Macau. The bank has nearly 2000 employees. The bank is licensed to issue Macanese plastic bank notes apart from offering other financial and banking services. Its email address is online©

The telephone number is (853)28355111.
Fax is (853)28355653.

The swift code for all bank’s branches is BNULMOM.


Montepio Bank is a mutual bank that was founded in Portugal in 1840. The bank is headquartered at Lisbon Portugal. The bank offers such services such as asset management, insurance, savings and investment.
The swift code for its branches is MPIOPTPL.
The Postal address is RUA DO OURO 219-241, Lisbon.

Nova Banco

Nova Banco is the latest Portuguese bank. The bank was founded in 2014. The bank has its headquarters in Lisbon. The bank offers a wide range of banking and financial services which include retail and investment banking, insurance, asset management and business capital. Besides that, the bank also offers electronic fund transfer services.
The bank has around 6000 employees.
Its website address is

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