Portugal opposes further increase in Spanish banks’ presence

Quick Summary:

Spanish lenders now represent about a third of Portugal’s banking market.

"I think that value shouldn’t increase" said Finance Minister Joaquim Miranda Sarmento.

Bloomberg News reported on May 9 that CaixaBank SA of Spain is among suitors exploring a potential acquisition of Novo Banco, according to people familiar with the matter.

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Article Details

Author / Journalist: Joao Lima, Bloomberg

Category: EconomyBusiness

Markets: United StatesPortugalSpain

Topics: Bank LondonWires CaixaBank BANCO SANTANDER

Source Website Secure: Yes (HTTPS)

News Sentiment: Negative

Fact Checked: Legitimate

Article Type: News Report

Published On: 2025-05-22 @ 10:59:22 (13 hours ago)

News Timezone: GMT +8:00

News Source URL: fortune.com

Language: English

Article Length: 746 words

Reading Time: 5 minutes read

Sentences: 4 lines

Sentence Length: 187 words per sentence (average)

Platforms: Desktop Web, Mobile Web, iOS App, Android App

Copyright Owner: © Fortune

News ID: 28904536

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Main Topics: EconomyBusiness

Official Website: fortune.com

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Year Established: 1929

Headquarters: United States

News Last Updated: 8 hours ago

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