Investors might want to consider banking stocks in Portugal according to Commerzbank. It is recommending the market as offering good value at the moment. It has stated that the time is right to buy Portuguese banks such as Banco Commercial Portugues (BCP), Banco Espirito Santo (BES), and Banco Portugues do Investimento (BPI).

These shares have been performing poorly having reported weak earnings so far this year. There are also concerns about slower loan growth in Portugal due to the economic conditions and relatively high loan penetration rates. Commerzbank believes these concerns are excessive and that the damage has been done to these shares prices. It favours BCP and BPI in particular, suggesting they have the potential to yield gains of more than 30 per cent over the current share price .