Portugal’s banks - customer complaints up 25%

Complaints upConsumer credit, mortgages and deposit accounts are the areas that have received the most complaints by customers so far this year.

According to an analysis released today by the Bank of Portugal for the first six months of the year a total of 9,715 complaints were received from bank customers across Portugal.

Complaints in the past half-year have focussed on consumer credit, deposit accounts, and loans which together accounted for 67.4% of the total complaints received.

The main problem area has been consumer credit where complaints are up 48% compared to 2012, "This growth was affected by complaints relating to the banks’ management of customers in default."

For mortgages there was an increase in complaints of 46.9% mainly due to changes in the terms and conditions of mortgage products.

The supervisory authority recorded that 43% of complaints were rejected as there were no rules broken, and of the remainder, 57% of cases went in favour of the bank under investigation.

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