Abanca has launched a new Personal Banking segment in Portugal, specifically designed to serve affluent clients who fall outside the scope of standard retail banking but do not yet qualify for private banking services.
The move signals a strategic push by the Spanish lender to deepen its relationship with higher-value customers in the Iberian market, offering tailored financial solutions and dedicated advisory services.
This development comes as European banks increasingly segment their client bases to capture fee income from the growing middle-wealth demographic.
By creating a distinct tier, Abanca aims to provide more personalized attention and product offerings, such as customized investment portfolios and credit facilities, which are typically reserved for private banking clients.
The strategy reflects a broader industry trend where banks are seeking to monetize relationships with clients who have significant assets but may not require the full suite of private banking services.
The launch underscores Abanca's commitment to expanding its wealth management capabilities in Portugal, a market where competition for affluent clients is fierce.