Bank of Portugal Says Clients Have ‘High’ Confidence in Banks

Bank of Portugal Governor Carlos Costa said customers in the country have “high” confidence in financial institutions and in the financial system.

There has been “high” growth in bank deposits by individuals, Costa said in a report released today about banking supervision.

“The fragility of the internal economic situation, characterized by a high level of unemployment, raises important risks for the balances of families and companies, and requires growing attention from the Bank of Portugal,” the report said.

To contact the reporter on this story: Joao Lima in Lisbon at jlima1@bloomberg.net

To contact the editor responsible for this story: Tim Quinson at tquinson@bloomberg.net

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