Portugal is a country that is home to a variety of banks offering a wide range of financial products and services.
With the increasing demand for online banking and other digital financial services, the banking sector in Portugal has witnessed a significant transformation in recent years.
As a result, choosing the right bank that can meet your financial needs can be challenging.
This essay will overview some of the best banks in Portugal and examine each offer’s products and services, customer service, and online banking capabilities.
If you are looking for the best bank in Portugal, keep reading to find the best choice for your money!
10 of the best Bank in Portugal
Portugal banks offer a range of financial products and services, including personal and commercial banking, investment banking, asset management, and insurance.
They have also invested heavily in their digital capabilities, providing user-friendly online banking platforms and mobile apps.
more article: 10 best Places to Stay in Portugal
The banking sector in Portugal is highly regulated and strongly focuses on financial stability, making it a safe and secure place to conduct financial transactions.
In the following, we are going to explore the best banks in Portugal:
1. Caixa Geral de Depósitos (CGD)
Caixa Geral de Depósitos (CGD) is one of the state-owned banks in Portugal. As the largest financial institution in Portugal, CGD strongly focuses on supporting economic development and promoting financial inclusion in the country.
This bank has a long history of providing reliable and stable banking services to its customers. Its extensive branch network and digital capabilities make it a convenient choice for Portuguese consumers.
Additionally, CGD offers a range of innovative financial products and services that cater to the needs of its customers, such as investment banking and asset management, making it a well-rounded banking option in Portugal.
Headquarters: Lisbon, Portugal
website: https://www.cgd.pt/
2. Banco Comercial Português (BCP)
Banco Comercial Português (BCP) is known for its strong focus on innovation and technology, a unique feature in Portuguese banking.
BCP has invested heavily in its digital capabilities, providing a user-friendly online banking platform and mobile app enabling customers to manage their finances conveniently.
Moreover, BCP offers a range of innovative financial products and services, such as virtual credit cards and an online marketplace for financial products.
This commitment to innovation and technology has made BCP a popular choice for tech-savvy customers among the best banks in Portugal.
Headquarters: Porto, Portugal
3. Novo Banco
Novo Banco is a relatively new bank in Portugal, having been established in 2014 as a result of the collapse of Banco Espirito Santo.
One unique feature of Novo Banco is its focus on sustainability and social responsibility. Novo Banco’s sustainability strategy aims to promote sustainable development, protect the environment, and support social causes.
Additionally, the bank has taken steps to reduce its carbon footprint and has implemented social responsibility initiatives, such as supporting cultural events and providing financial education to young people.
Novo Banco also offers a range of financial products and services, including personal and commercial banking, insurance, and investment management.
Headquarters: Lisbon, Portugal
website: https://www.novobanco.pt/
4. Banco Santander Totta
Banco Santander Totta is a leading banking institution in Portugal, known for its wide range of financial products and services.
One of the most prominent features of Banco Santander Totta is its strong focus on customer service.
The bank has invested heavily in training its staff to provide exceptional customer service, ensuring that customers receive personalized and high-quality service at every point of contact.
This focus on customer service and innovation has helped Banco Santander Totta to establish a reputation as a reliable and customer-focused bank in Portugal.
Headquarters: Lisbon, Portugal
website: https://www.santander.pt/
5. Millennium bcp
Millennium bcp is one of the largest banks in Portugal, known for its extensive branch network and innovative financial product.
The bank’s comprehensive CSR strategy includes initiatives to promote and support social causes and improve financial education.
Millennium bcp has also invested in renewable energy and has implemented initiatives to reduce its environmental impact.
Headquarters: Porto, Portugal
website: https://ind.millenniumbcp.pt/
6. Bankinter Portugal
Bankinter Portugal is a relatively new banking institution in Portugal, having entered the market in 2016.
Bankinter Portugal is famous for its expertise in asset management, with a range of investment products and services designed to help customers achieve their financial goals.
Bankinter Portugal also offers a range of credit products, including personal loans, mortgages, and credit cards, with competitive interest rates and flexible repayment terms.
The bank offers various commercial banking services for businesses and institutional clients, such as cash management, trade finance, and treasury management.
Address: Praça Marquês de Pombal n.º 13 piso 1, 1250-162 Lisboa, Portugal
website: https://www.bankinter.pt/
7. Montepio Geral
Montepio Geral is a Portuguese banking institution focusing on social solidarity and mutual aid.
The bank has a long background of providing financial services to needy communities and supporting social initiatives in Portugal.
In addition, the bank has a foundation that supports social causes and initiatives related to education, health, and culture.
Montepio Geral’s commitment to social solidarity has made it a popular choice for customers who prioritize social responsibility when choosing a banking partner.
Headquarters: Lisbon, Portugal
website: https://www.bancomontepio.pt/
8. EuroBic
EuroBic is one of the well-known banks in Portugal that stands out for its international focus and expertise.
The bank has a strong presence in international markets and has established itself as a key player in trade finance and international banking services.
EuroBic’s focus on international banking and innovation has made it a popular choice for customers with global business interests and those who value convenience and efficiency.
website: https://www.eurobic.pt/
9. BPI – Banco Português de Investimento
BPI – Banco Português de Investimento is a leading banking institution in Portugal, known for its expertise in investment banking and financial advisory services.
One of the best features of BPI is its focus on sustainability and social responsibility. The bank has established a comprehensive sustainability strategy that includes initiatives to promote environmental sustainability, support social causes, and improve financial education.
The bank’s expertise in investment banking and a strong commitment to sustainability have made it a popular choice for customers who prioritize social responsibility and financial expertise.
Headquarters: Porto, Portugal
website: https://www.bancobpi.pt/
10. Crédito Agrícola
Crédito Agrícola is a Portuguese bank focusing uniquely on rural and agricultural communities.
The bank has a long history of providing financial services to farmers and rural businesses in Portugal. It continues to support these communities through various financial products and services.
One unique feature of Crédito Agrícola is its network of local branches, which are staffed by banking professionals who deeply understand the local economy and the needs of rural customers.
Additionally, the bank is strongly committed to social responsibility and supports sustainable agriculture, rural development, and environmental protection initiatives.
website: https://www.creditoagricola.pt/
To summarize about
Portugal’s banking industry boasts various institutions catering to diverse customer needs, from international banking to social responsibility and rural communities.
Each bank has unique features and strengths that appeal to different types of customers.
It is essential to consider the different factors when choosing a banking partner, such as the level of convenience, financial expertise, social responsibility, and personalized service.
As Portugal’s economy grows and evolves, the banking sector must continue to innovate and adapt to meet customers’ changing needs.
So, which of these top 10 best banks in Portugal aligns with your banking needs and priorities? It is up to you to choose wisely and make the most of what the banking industry in Portugal has to offer.
