BdP Warns: “Banco do Imobiliário” Is Not Authorised to Extend Loans

10 May 2018

Banco de Portugal (BdP) has issued a warning that the “Banco do Imobiliário” is an entity that is not authorised to conduct financial operations in the country.

“The entity that is operating using the brand and commercial designation ‘Banco do Imobiliário’, namely on the website with the address www.bancodoimobiliario.com, is not at this date, nor was it ever, authorised to receive deposits or other repayable funds, lend funds or exercise any other financial activity reserved for institutions subject to BdP supervision,” the regulator announced in a statement.

The BdP added that “the financial activities provided for in Article 4(1) of the General Regime of Credit Institutions (approved by Decree-Law no. 298/92, on December 31) are limited to the entities authorised to exercise them, in accordance with the provisions of article 10 of that law.” A list of the authorised entities can be found on the regulator’s website.

Original Story: Idealista

Photo: Dinheiro Vivo

Translation: Richard Turner