U.S. private equity firm Lone Star has told the Portuguese government that it is likely to sell a 25-30% stake in Novo Banco via an initial public offering, rather than seek a full sale, Finance ...

Portugal's fourth-largest lender Novo Banco expects its acquisition by France's BPCE to give it "massive firepower" to grow in the Portuguese market and boost its financial strength, its CEO told ...

LISBON (Reuters) -Novo Banco, Portugal's fourth-largest lender, reported a record net profit of 744.6 million euros ($804 million) on Thursday, ahead of a planned initial public offering, and said ...

Novo Banco was established in 2014 by the Portuguese central bank as the "good bank" carved out from the collapsed Banco Espírito Santo. BES was one of Portugal’s oldest and most prominent ...

Losses at Portugal's Novo Banco widened 25% in 2020 to 1.3 billion euros ($1.5 billion) after provisions for credit and asset risks and the coronavirus pandemic.

Portugal’s government said it reached a deal to sell Novo Banco to Lone Star Funds, with the U.S. private-equity firm injecting $1.07 billion into the bank for a 75% stake.

Novo Banco, which is not listed, said that for its core activities, excluding legacy problem assets, net operating income rose 166 per cent to €232m in 2018, while operating costs fell 9.9 per cent.

Miranda Sarmento said the government had been told by Novo Banco and Lone Star that the U.S. private equity firm wanted to carry out "an IPO of around 25% to 30% of the capital" of the bank.

Novo Banco's core Tier-1 (CET1) capital ratio stood at 20.8% at the end of 2024, more than double the central bank's minimum requirement, but the medium-term target is now between 13% and 13.5% ...

The sources said Novo Banco was worth about 5 billion euros ($5.2 billion). Novo Banco, Portugal's fourth largest bank, was created in 2014 from the Portuguese government's bailout of collapsed ...