The President of Portugal’s Competition Authority (AdC), Nuno Cunha Rodrigues, has revealed that the Banco de Portugal (BdP) is ‘very interested’ in implementing the recommendations put forward by the regulator. The comments come following the release of the AdC’s study on ‘mobility of consumers in retail banking in Portugal’, which aims to increase transparency and reduce barriers for customers looking to switch banks.
In an interview with Negócios no NOW, Rodrigues stated that many of the conclusions presented in the study are not original, as similar studies have been conducted in other markets. However, he emphasised that the key objective is to ensure ‘more freedom of choice’ for consumers.
The study includes recommendations directed at both legislators and the Banco de Portugal, focusing on making the banking sector more competitive and consumer-friendly. The AdC’s findings suggest that greater mobility could lead to better services and pricing for customers.
Rodrigues expressed optimism about the central bank’s receptiveness, noting that the implementation of these measures could significantly improve the landscape for retail banking customers in Portugal.
Article and image source: jornaldenegocios.pt
