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175th anniversary of the Banco de Portugal

Summary:
2021 marks another anniversary of a central bank. This time it is Banco de Portugal (Central Bank of Portugal) which is celebrating its 175th anniversary. The central bank was established in 1846. Banco de Portugal was established by Royal Charter on 19 November 1846 as a bank of issue and commercial bank.  This came about through the merger of Banco de Lisboa, a bank of issue and commercial bank, and Companhia Confiança Nacional, an investment company that specialised in financing public debt.  The Bank was founded as a public limited company and was mostly privately owned until its nationalisation in 1974.  Governor Mário Centeno speaks on the occassion: It is with great pleasure that I welcome you to this ceremony marking the 175th anniversary of the Banco de Portugal. As Governor,

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2021 marks another anniversary of a central bank.

This time it is Banco de Portugal (Central Bank of Portugal) which is celebrating its 175th anniversary. The central bank was established in 1846.

Banco de Portugal was established by Royal Charter on 19 November 1846 as a bank of issue and commercial bank. 

This came about through the merger of Banco de Lisboa, a bank of issue and commercial bank, and Companhia Confiança Nacional, an investment company that specialised in financing public debt. 

The Bank was founded as a public limited company and was mostly privately owned until its nationalisation in 1974. 

Governor Mário Centeno speaks on the occassion:

It is with great pleasure that I welcome you to this ceremony marking the 175th anniversary of the Banco de Portugal.

As Governor, it is an honour to celebrate this milestone in the Bank’s life.

The celebrations that we are now launching, will go on for several months due to health restrictions.

Our Bank should be an inclusive institution and, as such, the key moment that marks these 175 years will be shared with the entire population in May next year.

I have spent a large part of my career in this institution, bearing witness to its importance and influence in national and European economic policy.

The Banco de Portugal is one of Europe’s oldest central banks. But for us, it is not just any central bank, it is our Bank.

Its creation dates back to the first half of the 19th century, to 1846, when the key pillars of the Portuguese financial system were established and the Bank took part in it from the outset.

The Bank’s history is inextricably linked to the economic and financial history of the country. It is the history of an institution that has grown and adapted over the course of 175 years, driven at all times by the purpose of serving the Portuguese well. We understand how institutions’ quality is crucial for the prosperity of nations and we want to be an active part of our country’s success.

Emphasis is mine and is true for most (if not all) central banks.

Amol Agrawal
I am currently pursuing my PhD in economics. I have work-ex of nearly 10 years with most of those years spent figuring economic research in Mumbai’s financial sector.

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