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| Headquarters | Lisbon, Portugal |
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| Coordinates | 38°42′31″N9°08′17″W / 38.708729°N 9.138148°W /38.708729; -9.138148 |
| Established | 19 November 1846; 179 years ago (1846-11-19) |
| Ownership | 100%state ownership[1] |
| Governor | Álvaro Santos Pereira[2] |
| Central bank of | Portugal |
| Reserves | 4 980 million USD[1] |
| Preceded by | Banco de Lisboa Companhia de Confiança Nacional |
| Succeeded by | European Central Bank (1999)1 |
| Website | www.bportugal.pt/en |
| 1 The Bank of Portugal still exists but many functions have been taken over by the ECB. | |
TheBanco de Portugal (Portuguese pronunciation:[ˈbɐ̃kuðɨpuɾtuˈɣal],lit. 'Bank of Portugal') is thenational central bank forPortugal within theEurosystem. It was the Portuguesecentral bank from 1846 to 1998, issuing theescudo. It was founded by royal charter in 1846, during the reign of QueenMaria II of Portugal, by a merger of theBanco de Lisboa [pt], the first bank founded in Portugal, and insurerCompanhia Confiança Nacional.
The bank has branch offices inCastelo Branco,Coimbra,Évora,Faro,Funchal,Leiria,Porto (Caixa Filial) andViseu.
In addition to its monetary role, the Banco de Portugal is also afinancial supervisory authority. In that capacity, it increasingly implements policies set at theEuropean Union level. It is the national competent authority for Portugal withinEuropean Banking Supervision.[3] It is a voting member of the Board of Supervisors of theEuropean Banking Authority (EBA).[4] It is Portugal's designatedNational Resolution Authority and plenary session member of theSingle Resolution Board (SRB).[5] It is also a member of theEuropean Systemic Risk Board (ESRB).[6]
QueenMaria II of Portugal established the bank byroyal charter on 19 November 1846 to act as a commercial bank and issuing bank. It came about as the result of a merger of theBanco de Lisboa, the first bank founded in Portugal, and the Companhia de Confiança Nacional, an investment company specialised in the financing of the public debt.
The bank was designated by the Portuguese Crown as the emitter oflegal tender, at the time thePortuguese real, which it continued producing until 1911.
Following theImplementation of the Republic in 1910, the Banco de Portugal began to emit thePortuguese Escudo.
In 1932, the bank established theBiblioteca do Banco de Portugal, one of the most significant private libraries in Portugal.
In 1946, the institution was bestowed the honor of Grand Cross of theOrder of Christ by thePresident of Portugal.
During theEstado Novo, the bank pursued a vigorous policy of gold acquisition starting in 1957, which has contributed towards Portugal's present-day status of having the14th largest gold reserve in the world.
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Following its nationalisation in September 1974 and its new Organic Law (1975), the Banco de Portugal was, for the first time, responsible for the supervision of the banking system.
It is an integral part of theEuropean System of Central Banks, which was founded in June 1998.
The Banco de Portugal ceased emission of thePortuguese Escudo in 1999, with the country's adoption of theEuro.
In 2013, the bank announced that it would pay €359 million in dividends, referring to the year of 2012.[7]
In 2014, the bank announced that it would pay €202 million in dividends, referring to the year of 2013, representing a steep decline in comparison to 2012.[8]
In August 2014, Banco de Portugal announced it was restructuring Portugal's second biggest bank,Banco Espírito Santo, by splitting the bank in two. During the bank restructure, one of the lenders, Oak Finance, had its loan liabilities remain withBanco Espírito Santo. This triggered a lawsuit from a group of investors including: hedge funds and theNew Zealand Superannuation Fund.[9]
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Prior to 1887, the Banco de Portugal was governed by a chairman of the board. Since then, the administration has been entrusted to the governor of the Banco de Portugal.[10] Central bank governors are proposed by the finance minister and nominated by the cabinet for a five-year term and can be reappointed once.[11]
| # | Name | Portrait | Term | ||||||
|---|---|---|---|---|---|---|---|---|---|
| 1st | António Augusto Pereira de Miranda | .png) | 1887–1891 | ||||||
| 2nd | Pedro Augusto de Carvalho |  | 1891–1894 | ||||||
| 3nd | Júlio de Vilhena |  | 1895–1907 | ||||||
| 4th | José Adolfo de Mello e Sousa | .png) | 1907–1910 | ||||||
| 5th | Inocêncio Camacho | .png) | 1911–1936 | ||||||
| Between 1936 and 1957, the Banco de Portugal operated without a governor. | |||||||||
| 6th | Rafael da Silva Neves Duque | _-_Domingos_Sequeira.png) | 1957–1963 | ||||||
| 7th | António Pinto Barbosa | | 1966–1974 | ||||||
| 8th | Manuel Jacinto Nunes | | 1974–1975 | ||||||
| 9th | José da Silva Lopes | | 1975–1980 | ||||||
| 10th | Manuel Jacinto Nunes | | 1980–1985 | ||||||
| 11th | Vítor Constâncio | _(cropped2).jpg) | 1985–1986 | ||||||
| 12th | Tavares Moreira | | 1986–1992 | ||||||
| 13th | Luís Miguel Couceiro Pizarro Beleza | | 1992–1994 | ||||||
| 14th | António José Fernandes de Sousa | | 1994–2000 | ||||||
| 15th | Vítor Constâncio | | 2000–2010 | ||||||
| 16th | Carlos da Silva Costa |  | 2010–2020 | ||||||
| 17th | Mário Centeno | .jpg) | 2020–2025 | ||||||
| 18th | Álvaro Santos Pereira | 2025– | |||||||
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