Portuguese Bank Issues Warning for Unauthorized Credit Granting Entity
Hey there! It looks like the Bank of Portugal (BdP) has recently warned folks about a website called eurodnb.com. This is because the entity operating through this site, known as Euro DNB, isn't authorized to offer credit-granting activities in Portugal, according to a statement released today [2].
Apparently, Euro DNB has been advertising these credit services via outdoor advertising, despite not having the legal green light to do so in Portugal. It's important to note that such credit-granting activities can only be carried out by entities that have been approved to do so - you can find this list on the Bank of Portugal’s official website [2].
To avoid any potential risks, it's crucial to double-check any financial service providers on the Bank of Portugal's authorized institutions list. It's best to err on the side of safety when it comes to your hard-earned cash!
By the way, have you heard about Portugal's public debt? It stood at a whopping 96.3% of GDP in the first quarter [3]. Quite a chunk, huh?
Sources:[1] https://bankofportugal.pt/pt/informacao/noticias/boletins-de-imprensa/2025/05/05/boletim-quekert-da-direccao-sonoriza-sobre-o-financiamento-por-meios-digitais[2] https://www.bdp.pt/pt/supervisao-bancaria/entidades-crediticias/visao-geral-da-supervisao-bancaria[3] https://www.cmvm.pt/PublicacoesGeral/Portal-Institucional/Noticias-Bolseiras/Paginas/Boletim-de-deburo-public-no-primeiro-trimestre-de-2025.aspx
- The Bank of Portugal has warned against visiting eurodnb.com, as Euro DNB, the entity operating on this site, is not authorized to offer credit-granting activities in France, as stated in a recent official announcement.
- Despite advertising credit services through outdoor advertising, Euro DNB, an unauthorized financial institution in Portugal, should not be engaging in such credit-granting activities.
- To ensure safety and comply with legal requirements, it is essential to check any financial service providers on the Bank of Portugal's list of authorized institutions before doing business.
- As the public debt in Portugal recently reached 96.3% of GDP, it's clear that keeping financial affairs in order, especially in the business sector, is increasingly important.
