Novo Banco

The CEO of Portugal’s high street bank BPI, João Pedro Oliveira e Costa, has put a damper on last weeks Novobanco sale contract celebrations by challenging that the Portuguese State had forked [...]

Portuguese judicial police officers swooped on Novobanco headquarters while the actual contract signing ceremony was being held at the Ministry of Finances on Wednesday celebrating the bank’s [...]

The government is to receive €1.7Bn from the sale of Novobanco – at least going a small way towards compensating the estimated €8Bn that the banking sector and tax payers had forked out to [...]

The US fund Lone Star is to distribute bonuses of around €1.1Bn to directors involved in the sale of Novobanco. They will get the bonus as soon as the €6.4Bn sale deal to French banking group [...]

Novobanco, which has only recently been acquired by the French banking group BPCE for €6.4Bn, has posted first half profits of €435 million. The Portuguese bank, which had been controlled by US [...]

In an interview with the newspaper Observador, the CEO of bank BCP has claimed that it “wasn’t the Portuguese tax payers” that paid the resolution costs of Novobanco but rather the banks which [...]

Novobanco has put up for sale a number of properties and parcels of land that comprise the luxury resort Vila Verde Resort on the Ilha do Sal in Cape Verde at a value of €90 million, according to [...]

The US ratings agencies say that if the acquisition of Novobanco by French group BPCE is successfully completed, then it will likely increase the bank’s rating. In a note sent to the securities [...]

Movers and shakers in Portugal’s financial sector are said to be satisfied with the sale of Novobanco to France’s BPCE Group, considering it “good for the other banks” since it will reduce the [...]

France’s BPCE group, which has signed a Memorandum of Understanding to purchase Portugal’s Novobanco, has agreed to pay almost 1.7 times of the book value, meaning 70% above the average that [...]