Novo Banco

Novobanco has posted record results of €743 million in its first year operating as a normal bank after years in which it was propped up by the Portuguese tax payer. It was a result that led the [...]

The ratings agency Fitch has upgraded Novobanco’s investment rating after the bank had presented significant improvements since it was bought out by US equities and asset management fund Lone [...]

Novobanco closed 2023 with the sale of real estate assets worth €70 million with the sale of Arade in Portimão to Lintinvest for €30 million and Cabanas Golf in Oeiras to RE Capital for €40 [...]

A former manager at Novobanco in Spain is being investigated for swindling 80 clients from around €50 million in a Ponzi scheme, with a court ordering the bank to stump up a third-party bond of [...]

The US venture capital and asset management fund Lone Star has put a €2Bn price tag for the sale of its 75% share in Novobanco. According to the Spanish media outlet Vozpópuli, the bank has [...]

The CEO of Novobanco has been on a charm offensive with potential investors in New York, London and Frankfurt to sound out their appetite for a planned Initial Public Offer of shares floated on [...]

Novobanco posted profits of €373.2 million for the first half of 2023, an increase of 40% on the like-for-like period in 2022. The bank says the profits are down to “the sustained evolution of [...]

Novobanco is preparing a reorganisation of is asset management businesses in which it will concentrate the activities and assets of various management companies into one “super” manager that will [...]

The Portuguese State is planning to become the second largest shareholder in Novobanco – the bank created in 2014 to hold the recoverable assets and deposits from Banco Espírito Santo which [...]

Banco Espírito Santo and its replacement Novobanco are the financial institutions that have most benefitted from public funds since 2008. Over 14 years they have received around €8.3Bn from the [...]