BANKING SYSTEM OF MADEIRA

Banking operations in Madeira are governed and controlled by the Central Bank of Portugal. Strong correspondence networks are maintained around the world by onshore and offshore banks. Most of them subscribe to international banking services like SWIFT and Reuters. Thus they have easy access to the world-banking network and are able to carry out traditional and specialized financial transactions.
The principal banking services offered include: deposit accounts, foreign exchange, fund and asset management and corporate lending.
Some 42 banks and other financial institutions are currently licensed to operate under the Free Trade Zone Legislation.

Some of the financial institutions operating include:

BANCO ESPÍRITO SANTO E COMERCIAL DE LISBOA
BANIF - BANCO INTERNACIONAL DO FUNCHAL, SA
CRÉDITO PREDIAL PORTUGUES, SA
CHEMICAL BANK
CITIBANK
DEUTSCHEBANK
ABN-AMRO