Article 12 Jul 2016

Portugal: The reputational crisis in the banking sector

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To recover the lost reputation is now the priority of the Portuguese banking sector. Or at least it should be. Without it, and without starting a road of dialogue and recovery of confidence of its stakeholders, it will be difficult to regain profitability. It would be the same as saying, in a more technical language that reputation is at this time a sort of undervalued asset. And the rules say that in these cases, it is necessary to recognize the losses and, consequently, constitute provisions. That is it, it is necessary to rebuild the reputation to restore financial equilibrium.

Tiago Vidal, Managing Director at LLORENTE & CUENCA Portugal

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