LISBON: Portugal’s banks are now more well capitalised than in 2011, and anyone who suggests the contrary is being “offensive” about the euro-zone adjustment programme that the country implemented from 2011 to 2014, and to the Bank of Portugal (BdP), the bank’s governor, Carlos Costa, said on Wednesday.“Today the banks have a capital level that is higher to what they had in 2011,” Costa said at a banking sector event in Lisbon. “Portuguese banks are more well capitalised. Anyone who criticises the adjustment programme and says it was a failure doesn’t know what they’re talking about.”
Costa was reviewing the current state of the banking sector in Portugal, with a view to understanding its past and future. In his speech, the governor said that suggesting that the country’s banks are not better off than they were is being “offensive to the adjustment programme and to the BdP”, and that anyone saying so “can only be very ignorant or illiterate”.
