Portugal’s banks seek to complete capital rounds

For all the capital they are raising, Portuguese banks are not out of the woods yet.

Banco Comercial Portugues, the country’s biggest publicly traded lender by assets, last week raised €1.3bn in capital, while state-owned lender Caixa Geral de Depositos is set to get the rest of its €5bn capital boost from March.

Meanwhile, Novo Banco, which emerged from the breakup of Banco Espirito Santo, still carries a ‘for sale’ sign more than two years after it was put on the block.