| BEST - Banco Electrónico de Serviço Total, S.A. | |
| Trading Name: | Banco Best Best Bank |
| Native Name Lang: | pt |
| Type: | Privately held company |
| Industry: | Banking Financial services |
| Founded: | 2001 |
| Hq Location: | Lisbon, Portugal |
| Area Served: | Portugal |
| Key People: | Nuno Rocha Pedro das Neves Marta Mariz |
| Products: | Checking Accounts Term Deposits Investments Retirement Cards Loans Insurance |
| Services: | Retail Banking Commercial Banking Investment Banking Private Banking Wealth Management |
| Revenue: | €18.3 million |
| Revenue Year: | 2022 |
| Operating Income: | €1.8 million |
| Income Year: | 2022 |
| Net Income: | €1.7 million |
| Net Income Year: | 2022 |
| Assets: | €878 million |
| Assets Year: | 2022 |
| Equity: | €78.9 million |
| Equity Year: | 2022 |
| Owner: | novobanco (100%) |
| Members: | 89,000 |
| Members Year: | 2021 |
| Num Employees: | 87 |
| Num Employees Year: | 2022 |
| Ratio: | 50.6% (2022) |
| Website: | https://www.bancobest.pt/ |
Banco Best, also known as Best Bank, is a private financial institution founded in 2001 and registered with the Bank of Portugal[1] and the Portuguese Securities Market Commission (CMVM).
Based in Lisbon, Banco Best operates in the areas of Banking, Asset Management, and Trading, providing its services from a multi-channel perspective.
Focused on digital, Banco Best offers a wide range of everyday products and services, such as accounts, credit and debit cards, credit and insurance, as well as a variety of investment products, including funds, ETFs, stocks, and retirement products.
Banco Best products include Conta Digital.[2] MB WAY and access to all the bank's products, such as term deposits.
In addition to its online focus, the digital bank also has 6 Investment Centers (Aveiro, Braga, Faro, Leiria, Lisbon, and Faro) and 7 Offices (Boavista, Guimarães, Monção, Porto - Foz, Santarém, Tâmega e Sousa, and Vila Verde).[3]
Banco Best concluded the 2021 financial year with a positive net result of 3.3 million euros. However, in 2022, despite an increase in revenue, the bank experienced a decrease in net results, which amounted to 1.7 million euros.
The bank was founded in June 2001 with a shareholder structure consisting of the defunct Banco Espírito Santo (BES) 75% and Saxo Bank 25%. In 2015, with the departure of Saxo Bank, the bank became wholly owned by novobanco (100%).
In March 2023, novobanco launched the project to sell Banco Best, which it called "Project Bravo".[4] However, two months after the sale process had been launched, Novo Banco withdrew from the sale of Banco Best due to the group's strategic repositioning in digital.[5]