Novo Banco

After steering Novobanco through a six-year hurricane of turmoil, painful restructuring and media and parliamentary controversy, CEO António Ramalho has left the bank for Swiss pastures. He is [...]

A Portuguese millionaire entrepreneur has acquired the Herdade do Vale Feitoso – the largest fenced estate property in Portugal. Ricardo Machado, who has a dispute over €1Bn running in [...]

Portugal’s public spending watchdog Tribunal de Contas has concluded that a bank that has received around €11Bn to detoxify its balance sheets and keep it afloat since 2014, did not act in the [...]

There was no documented reasoning to explain Novobanco’s decision to sell off its subsidiary bank in Spain according to a report on the findings of an audit carried out by Deloitte. The sale was [...]

Mark Bourke, currently CFO at Novobanco, has been chosen at the next CEO to replace António Ramalho when he stands down in August. In a communiqué sent to the stock market commission CMVM, [...]

Novobanco has once again handed out bonuses to its directors, this time worth €1.6 million. In 2020 it handed out bonuses of €1.9 million according to its financial report of 2020. Despite [...]

The CEO of Novobanco, António Ramalho, decided to leave his post in August after strong and hostile criticisms of the way he has run the bank recently. It turns out he may have resigned after [...]

The president of Novobanco, António Ramalho, has announced to the bank’s supervisory board of directors that he will step down in August but will remain on as a consultant. The news was broken by [...]

Lone Star, the US investment fund who owns 75% of Novobanco, says the bank’s CEO acted with “total integrity” regarding ex-Benfica boss Luís Filipe Vieira who left the bank with millions owing [...]

The Portuguese government has said there will be no more taxpayer handouts to Novobanco which was created after the Banco Espírito Santo empire collapsed in 2014. According to ECO online, the [...]