The Portuguese Banking Association (APB) celebrated its 40th anniversary on October 17th by hosting a conference on the banking sector’s contribution to Portugal’s social and economic development over the past four decades.

Vice-Governor of the Bank of Portugal Clara Raposo opened the event, followed by a keynote speech from APB President Vítor Bento. In his address, Professor Bento used a time-travel metaphor to explain how banking enables families and businesses to meet their present needs with future-generated wealth.

“As banks provide credit today, they act as time portals, allowing individuals to bring their future financial resources into the present, where they are needed most,” explained the APB President.

The conference included a panel discussion with economists Filipe Santos (Dean of Católica-Lisbon), Ana Paula Serra (Faculty of Economics, University of Porto), and Ricardo Reis (London School of Economics), moderated by Diana Ramos, Editor of Jornal de Negócios.

Another panel, featuring CEOs Paulo Macedo (CGD), Miguel Maya (Millennium BCP), Pedro Castro e Almeida (Santander Portugal), Mark Bourke (Novo Banco), and João Oliveira e Costa (BPI), discussed the evolution of governance in banking, the need for lighter regulatory burdens, and the sector's commitment to supporting public investment. This discussion was moderated by Isabel Vaz, CEO of Luz Saúde.

The event concluded with remarks from Minister of State and Finance Joaquim Miranda Sarmento.