The 2008 collapse of Banco Português de Negócios (BPN) is still being supported by taxpayers with a further €420 million being set aside to cover losses and write-offs incurred in 2016.

BPN appears to have been run for the benefit of its crooked management. As those in charge were incompetent as well as criminals, the bank went bust in 2008, triggering a State bailout that so far, with this 2016 figure added in, has cost the public purse an eye-watering €3.66 billion.