NOVO BANCO, S.A.
The Bank of Portugal established Novo Banco as the successor of Banco Esprito Santo (BES), which was established in August 2014 as a bridging bank (or "good bank") to rescue BES's assets and liabilities. The only owner of Novo Banco is a unique bank Resolution Fund, which will keep ownership of the institution until it is sold to new investors. Novo Banco offers goods and services in insurance, asset management, retail, and investment banking.
Services
- retail banking
- business banking
- corporate banking
- institutional banking
- insurance
Area Served
- Portugal
- internationally
- Germany
Products
- current accounts
- debit cards
- credit cards
- prepaid cards
- savings accounts
- time deposit accounts (2.75 - 3.00 %)
- investment funds
- consumer loans
- car loans
- mortgage loans (2.28 - 2.28 %)
NOVO BANCO, S.A.'s total assets in 2021 were 44 341 million EUR. The bank's net income in 2021 was EUR 225,91 mln.
Moody's has rated NOVO BANCO, S.A. The bank's long-term credit rating from Moody's is B1 (very speculative). Participating in Portugal's deposit guarantee program is NOVO BANCO, S.A.Accounts up to 100,000 EUR per bank and depositor are covered under this program.
Founded: August 4, 2014
Headquarters: Lisbon, Portugal
Website: https://www.novobanco.pt/english
