Novo Banco has requested €600 million from the Resolution Fund to partly cover losses of around €160 million made in 2020. But Prime Minister António Costa said that the application to the fund [...]
Novo Banco’s accounts for 2020 reflect an increased exposure to risk from the Angolan bank Banco Económico which had, before 2014, been part of the Espírito Santo group. The Angolan bank’s rating [...]
A leading Portuguese economist who managed Novo Banco at the time it was set up in 2014, says that the new bank project was crippled from the start by an underfund of €3.6Bn. Vítor Bento, the [...]
Private individual debt hit a five year maximum in January 2021, increasing €2.15Bn on the same month last year. According to data from the Bank of Portugal, family debt increased to €141.4Bn at [...]
Novo Banco and Banco CTT have made it to the shortlist of candidates that will go forward to the second round of the competition to buy bank EuroBic. The two banks join Apollo, one of the largest [...]
Portugal’s post office bank Banco CTT achieved a positive consolidated net profit of €0.2 million in 2020 for the first time in its history. Banco CTT which began its activity in 2016, registered [...]
The CEO of Caixa Geral de Depósitos, Paulo Macedo, warned on Monday that there could be a ‘tsunami’ of credit defaults when bank moratoria end, if additional support to the sectors most affected [...]
The author of a secret report has laid bare damning findings into the way the Bank of Portugal failed to act decisively to avert the collapse of Banco Espírito Santo in 2014 and ensure assets at [...]
The CEO of BNI Europa has resigned after the no-frills bank had to have a €4 million cash injection from Angolan shareholders. The bank is up for sale. Pedro Pinto Coelho presented his [...]
A court has agreed with the Bank of Portugal that channelling toxic debts inherited by Novo Banco from BES, a bank that collapsed in 2014, to a BES ‘bad’ bank in 2015 was the right thing to do. [...]
