 | This article needs additional citations for verification. (March 2023) |
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| Company type | Public company|Public |
|---|---|
| Industry | Financial services |
| Predecessor | Banco Espirito Santo |
| Founded | August 4, 2014 |
| Headquarters | Lisbon, Portugal |
Number of locations | 292 branches |
Key people | |
| Products | Retail and investment banking, insurance, asset management, venture capital |
| Brands | novobanco |
 €743mn (2023) [1] | |
| Total assets |  € 43.5 billion (2023) |
| Total equity | € 6.568 billion (2023) |
| Owners |
|
Number of employees | 4,209 (Dec 2023) |
| Subsidiaries | Banco Best (100%); GNB GA (100%) |
| Website | www.novobanco.pt www.novobanco.pt/english/about-novobanco/about-novobanco |
Novobanco, Novo Banco, SA, is a major Portuguese financial bank headquartered in Lisbon, Portugal. Following the entry into force of European Banking Supervision in late 2014, Novo has been designated as a Significant Institution and is supervised by the European Central Bank.[2][3]
Novo was established on 4 August 2014, as a result of a restructuring following the bankruptcy of Banco Espírito Santo (BES) led by the Bank of Portugal to hold the bank's healthy assets. This allowed Novobanco to operate split off from the BES's toxic assets after historic losses of 3,577 million euros. BES's toxic assets, on the other hand, were transferred to a "bad bank".[4]
In 2022, Novo launched a rebranding.[5] The bank also reported that it held a solid balance sheet and robust capital ratios and was investing heavily in renewing its commercial network.[5][6]
- ^ "2023 Results Presentation | novobanco". www.novobanco.pt. Retrieved September 20, 2024.
- ^ "The list of significant supervised entities and the list of less significant institutions" (PDF). European Central Bank. 4 September 2014.
- ^ "List of supervised entities" (PDF). European Central Bank. 1 January 2023.
- ^ Dinis, David (2022). "Observador".
- ^ a b Expresso, Expresso. ""novobanco renova a imgem: vai ficar azul turquesa até meados de 2022"".
- ^ Dinheiro Vivo. ""novobanco investe cem milhões e revoluciona balcões"".