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Novo Banco, a Portuguese banking chain created from the ashes of Banco Espírito Santo in 2015, has begun offloading 9,000 properties worth around €700 million. According to the business title [...]

Portugal’s Novo Banco, led by António Ramalho, is to try and offload its loan defaults on the markets. The portfolio of loan defaults is estimated to be worth €1.75Bn according to sources quoted [...]

The multi-million sale of the Herdade da Comporta resort could fall through because of disagreements between the owners and potential buyers. The owners, Gesfimo, a real estate asset management [...]

The fund that manages the Herdade da Comporta has decided to postpone its decision to whom  to award the sale of the resort until September. Interested parties now have until 20 September to [...]

Novo Banco has begun selling its property assets in Lisbon including it’s headquarters in Avenida da Liberdade. The bank will sell 11 buildings in the Greater Lisbon area and will move to [...]

Portugal’s Public Finance Council has said that the country’s deficit is being brought under control and the nation’s finances are on the right path. However, the spending watchdog has warned of [...]

The US ratings agency Moody’s has withdrawn its positive outlook rating on Novo Banco deposits. The agency, which grades the financial health and sustainability of companies and banks across a [...]

Novo Banco, the bank created from Banco Espírito Santo, is in profit for the first time since its creation in 2015. The bank, led by António Ramalho, registered profits of €60.9 million in Q1 of [...]

Portugal’s banking federation union has shown its displeasure after a multi-million-euro debt write-down for Lisbon football club Sporting. Fedbase, the federation union representing [...]

The investment fund which manages the troubled Herdade da Comporta resort development is to sell off tourist assets to pay debts failed bank Banco Espírito Santo owes to public bank Caixa Geral [...]