ABANCA has successfully completed the integration of EuroBic, enhancing its market presence in Portugal and positioning itself for future growth.

Target Information

ABANCA has successfully completed its integration of EuroBic, marking the official conclusion of the acquisition process that began in July of the previous year. Over the weekend, the legal integration, the technological migration of EuroBic’s business operations to ABANCA's platform, and the branding transition at branches and ATMs were executed as planned. With this successful integration, ABANCA embarks on a new chapter in Portugal aimed at strengthening its market position within the Portuguese and Iberian sectors.

Juan Carlos Escotet Rodríguez, president of ABANCA, stated, "This operation provides us with a platform to continue growing in Portugal organically, establishing ourselves as a reference entity for both businesses and individuals through an innovative and highly technological banking model." Francisco Botas, the CEO, added that the quality of their team in Portugal, coupled with their specialized approach, enables them to effectively target key segments within their strategic framework through a distinct value proposition.

Industry Overview in Portugal

The banking industry in Portugal has seen significant advancements and transformations over recent years. Following the financial crisis, the Portuguese banking sector embarked on a long path of restructuring and recovery, le