Portuguese banks boosted by stronger economy, NPL sales ahead of MREL build-out

By David Freitas
31 Oct 2019

Portuguese banks are preparing to build towards their minimum requirements for own funds and eligible liabilities (MREL), having been lifted by an encouraging year in terms of non-performing loan disposals and by a strong performance in the domestic economy.

The Portuguese banking sector is one of the few in the EU in which there have been very few sales of non-preferred senior bonds for MREL so far.

Fitch estimates that the country's financial institutions will need to issue up to €9bn to fulfill their requirements.

But market participants believe ...

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