Growing interest from conservative investors is driving demand for capital-protected solutions and thematic exposures, the bank says.
Abanca was named Best Performance Spain & Portugal at the SRP Europe 2026 awards, held in London last week, recognising the bank’s consistent activity and client-focused approach in the structured products market.
Our approach is driven by a strong commitment to value for money and robust backtesting - Carlos Traquino
The Spanish bank launched 33 structured products in Portugal between the relevant period (Oct 24- Oct 25), working with a diversified panel of issuers. Barclays and Société Générale were the most active partners, delivering eight products each. They were followed by BNP Paribas (six products) and BBVA (four), while Citigroup, Morgan Stanley and Goldman Sachs contributed one product each.
Autocallables and barrier reverse convertibles dominated issuance, complemented by a range of structures including range/accrual, digital and “wedding cake” payoffs, reflecting a balanced approach to yield enhancement and risk management.
Exposures were dominated by interest rates (3M Euribor) and index-linked structures including regional- (Eurostoxx 50) and sector-focused (Eurostoxx Banks, Stoxx Europe 600 Basic Resources) as well as custom strategies (Solactive Transat Enhanced US Social Screened 50 Decrement 50 EUR Index; Morningstar Eurozone Multi-Sector Select 20 Decrement 50 Point GR EUR Index; and Solactive Transat Enhanced EZ Social Screened 50 Decrement 50 EUR Index)
Abanca also had 34 products maturing organically or early in 2025 delivering an average return of 105.92%.
According to Carlos Traquino, team leader – client treasury & capital markets at Abanca Portugal, the award reflects a disciplined investment philosophy centred on value for money and rigorous analysis.
“Our approach is driven by a strong commitment to value for money and robust backtesting,” he said. “We align our product suite with our house view, ensuring every strategy is backed by high conviction while maintaining transparency and a client-first fee structure.”
The Abanca team at the SRP Europe 2026 Awards in London on 17 March (left to right): Carlos Traquino and Rafael Fernandez de Soria Martinez
The bank has combined this framework with close collaboration across issuers and distribution channels, prioritising direct engagement and idea generation across its network.
Retail momentum builds
While private banking remains a core pillar, Abanca is seeing growing traction in the retail segment, particularly among conservative savers seeking alternatives to traditional deposits.
“There is a clear opportunity to expand access to capital-guaranteed solutions offering competitive payoffs,” said Traquino, pointing to increasing demand for tailored products in domestic markets.
In 2025, issuance was shaped by interest rate cycles, with investors favouring longer-term autocallable structures to enhance returns. So far in 2026, demand has shifted towards capital-at-risk products with more conservative protection barriers, as investors seek to balance yield and risk in a volatile environment.
The bank has also identified strong growth in dual structures combining partial capital protection with early redemption features, alongside increasing interest in thematic exposures aligned with internal market views.
ESG and innovation
ESG integration is emerging as a key structural trend, moving from a niche consideration to a core component of product design.
“We are seeing strong appetite for ESG-linked structures, where sustainability metrics are embedded into payoff profiles,” said Traquino. “This is an area of innovation we are keen to develop further.”
Over the past year, Abanca has expanded its ESG offering and launched a charitable note, highlighting a broader push towards aligning financial performance with social impact.
Looking ahead, the bank sees significant growth potential in Portugal, driven by increasing demand for more sophisticated savings solutions and greater awareness of structured products.
“Our goal is to lead this evolution by providing competitive, capital-protected solutions and supporting the transition towards more efficient wealth management,” Traquino said.
“We remain focused on providing the Portuguese population with accessible tools to transition toward more efficient wealth management.”
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