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Banco Best

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BEST - Banco Electrónico de Serviço Total, S.A.
Trade nameBanco Best
Best Bank
Company typePrivately held company
IndustryBanking
Financial services
Founded2001
HeadquartersLisbon, Portugal
Area servedPortugal
Key peopleNuno Rocha
Pedro das Neves
Marta Mariz
ProductsChecking Accounts
Term Deposits
Investments
Retirement
Cards
Loans
Insurance
ServicesRetail Banking
Commercial Banking
Investment Banking
Private Banking
Wealth Management
RevenueIncrease €18.3 million (2022)
Operating incomeDecrease €1.8 million (2022)
Net incomeDecrease €1.7 million (2022)
Total assetsIncrease €878 million (2022)
Total equityDecrease €78.9 million (2022)
Ownernovobanco (100%)
Members89,000 (2021)
Number of employees87 (2022)
Capital ratioIncrease 50.6% (2022)
Websitehttps://www.bancobest.pt/

Banco Best, also known as Best Bank, is a private financial institution founded in 2001 and registered with the Bank of Portugal and the Portuguese Securities Market Commission (CMVM).

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. 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).

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

The 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". 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.

See also

Notes

  1. "BEST - BANCO ELECTRÓNICO DE SERVIÇO TOTAL, SA | Banco de Portugal". www.bportugal.pt (in European Portuguese). Retrieved 2023-08-08.
  2. "Relatório e Contas 2022". Banco Best (in Portuguese). Retrieved 2023-08-08.
  3. "Locations". Banco Best (in Portuguese). Retrieved 2023-08-08.
  4. "Novobanco recebe propostas para o Banco Best esta sexta-feira | Jornal Económico". leitor.jornaleconomico.pt (in Portuguese). 2023-04-14. Retrieved 2023-08-08.
  5. "Novobanco deixa cair venda do Banco Best | Jornal Económico". leitor.jornaleconomico.pt (in Portuguese). 2023-05-26. Retrieved 2023-08-08.

External links


Banks of Portugal Portugal
Central bank
major Portuguese banks
Other retail banks &
financial institutions
Defunct banks &
financial institutions
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