Competing as a Strong and Independent Portuguese Bank
A domestic player in a market with 2022E GDP growth >6.5%, with resilient
private consumption, strong recovery in tourism and rise in net exports...
Annual GDP growth
(%)
2022
2023
6.2
6.7
6.5
5.5
Unemployment rate
(% labour force)
20
Employment
(RHS) 5,000
4,800
15
4,600
3.1
Unemployment rate
4,400
1.2
1.3
10 (LHS)
6.1 4,200
0.7
0.5
4,000
5
3,800
2021
Portugal Portugal Portugal
(IMF) (PubFinCouncil) (Budget'23)
Euro Area
(IMF)
0
3,600
2000 2003 2006 2009 2012 2015 2018
2021
INE house price index and transactions
(% YoY; # thousands)
Industrial production and services turnover
(% YoY; 3m MA)
# Transactions
15
(RHS)
13.2
40
50
Prices % YoY
10
40
20
(LHS)
43.6
5
30
0
0
20
23.0
Services Turnover
2.2
Industrial Production
-20
-5
10
-10
0
-40
2010 2011 2012 2013 2014 2015 2016 2017 2018 2019 2020 2021 2022
2006
2008
2010 2012 2014 2016 2018 2020 2022
novobanco
8View entire presentation