Banco Best, also known as Best Bank, is a private financial institution founded in 2001 and registered with the Bank of Portugal[1] and the Portuguese Securities Market Commission (CMVM).
 | |
| Banco Best Best Bank | |
| Company type | Privately held company |
| Industry | Banking Financial services |
| Founded | 2001 |
| Headquarters | Lisbon, Portugal |
Area served | Portugal |
Key people | Nuno Rocha Pedro das Neves Marta Mariz |
| Products | Checking Accounts Term Deposits Investments Retirement Cards Loans Insurance |
| Services | Retail Banking Commercial Banking Investment Banking Private Banking Wealth Management |
| Revenue |  €18.3 million (2022) |
 €1.8 million (2022) | |
| €1.7 million (2022) | |
| Total assets | €878 million (2022) |
| Total equity | €78.9 million (2022) |
| Owner | novobanco (100%) |
| Members | 89,000 (2021) |
Number of employees | 87 (2022) |
| Capital ratio | 50.6% (2022) |
| Website | https://www.bancobest.pt/ |
Based in Lisbon, Banco Best operates in the areas of Banking, Asset Management, and Trading, providing its services from a multi-channel perspective.
Focused on digital, Banco Best offers a wide range of everyday products and services, such as accounts, credit and debit cards, credit and insurance, as well as a variety of investment products, including funds, ETFs, stocks, and retirement products.
Banco Best products include Conta Digital.[2] MB WAY and access to all the bank's products, such as term deposits.
In addition to its online focus, the digital bank also has 6 Investment Centers (Aveiro, Braga, Faro, Leiria, Lisbon, and Faro) and 7 Offices (Boavista, Guimarães, Monção, Porto - Foz, Santarém, Tâmega e Sousa, and Vila Verde).[3]
Banco Best concluded the 2021 financial year with a positive net result of 3.3 million euros. However, in 2022, despite an increase in revenue, the bank experienced a decrease in net results, which amounted to 1.7 million euros.
History
editThe bank was founded in June 2001 with a shareholder structure consisting of the defunct Banco Espírito Santo (BES) 75% and Saxo Bank 25%. In 2015, with the departure of Saxo Bank, the bank became wholly owned by novobanco (100%).
In March 2023, novobanco launched the project to sell Banco Best, which it called "Project Bravo".[4] However, two months after the sale process had been launched, Novo Banco withdrew from the sale of Banco Best due to the group's strategic repositioning in digital.[5]
See also
editNotes
edit- ^ "BEST - BANCO ELECTRÓNICO DE SERVIÇO TOTAL, SA | Banco de Portugal". www.bportugal.pt (in European Portuguese). Retrieved 2023-08-08.
- ^ "Relatório e Contas 2022". Banco Best (in Portuguese). Retrieved 2023-08-08.
- ^ "Locations". Banco Best (in Portuguese). Retrieved 2023-08-08.
- ^ "Novobanco recebe propostas para o Banco Best esta sexta-feira | Jornal Económico". leitor.jornaleconomico.pt (in Portuguese). 2023-04-14. Retrieved 2023-08-08.
- ^ "Novobanco deixa cair venda do Banco Best | Jornal Económico". leitor.jornaleconomico.pt (in Portuguese). 2023-05-26. Retrieved 2023-08-08.
External links
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