-
Banco Português de Investimento, also known as Banco BPI and one of Portugal's biggest banks, is seeking regulatory approval to open a branch in Newark, according to state documents.
December 7 -
Portuguese banks lowered the spread between the interest rate they charge on housing loans and the benchmark Euribor rate in the second quarter, as competition increased for one of the fastest-growing loan types. Four of the five banks in a Bank of Portugal survey said they reduced the spreads. One said it cut them "considerably," the central bank said on its Web site. Another said it "slightly" increased them.
August 8
Portugal's fourth-largest bank has received approval to open two representative offices in the United States.
The Federal Reserve Board on Monday
The $56 billion-asset company, also known as Banco BPI, already has a money remitter unit in Newark, though it will close that operation when the new offices open.
Banco BPI has branches in Spain, France, Macau and the Cayman Islands, as well as representative offices in Canada, Venezuela, Germany, France, the United Kingdom, Switzerland and South Africa. It also operates banks in the Cayman Islands, Angola, Mozambique, Spain and Switzerland.
