Novo Banco, SA

 (3.7; 12 ratings)
3.7 12
Business Focus
universal banking

Novo Banco is a successor of Banco Espírito Santo (BES) establised in August 2014 by the Bank of Portugal as a bridge bank (or a "good bank") to rescue assets and liabilities of BES. The only owner of Novo Banco is a special bank Resolution Fund, the fund will continue to own the bank until the bank is sold to new owners. Novo Banco provides products and services in retail and investment banking, asset management and insurance.

Services

retail banking
corporate banking
insurance

Area Served

PTPortugal
internationally
DEGermany

Products

current accounts
debit cards
credit cards
prepaid cards
savings accounts
investment funds
consumer loans
car loans

Account Currencies

EUEUR (Euro)

Card Providers

Visa

International Transfers

SWIFT Transfers
SEPA Credit Transfers
SEPA Instant Transfers
SEPA Direct Debits

Account Opening

Becoming a client of Novo Banco, SA can be done in a few steps:

1.
Completely online

Due to regulatory requirements Novo Banco, SA performs KYC/AML checks when establishing business relationships with a new client. While onboarding a private individual Novo Banco, SA will ask him/her to provide the following documents: passport; proof of address; employment details. For corporate clients Novo Banco, SA will ask to provide corporate documentation as well as information about controlling persons. Novo Banco, SA may request additional documentation or information depending on the case. Novo Banco, SA performs client's identity verification via video call.

Ways to Bank

Novo Banco, SA delivers its products and services through both direct and indirect channels, namely:
branch
online banking
mobile app

Financials

Total Assets of Novo Banco, SA
Net_income of Novo Banco, SA
Total Assets (2019)
45,559.92 mln EUR  (+3.17%)
Net Income (2019)
-1,056,099,000.00 EUR  (-25.97%)
Number of Employees (2019)
4,214  (-2.39%)

In 2019 total assets of Novo Banco, SA were 45 559,92 mln EUR. In 2019 the bank's net income was -1 056,10 mln EUR. Novo Banco, SA had 4 214 employees in 2019.

Credit Ratings

Fitch: -
AAA
AA+, AA, AA-
A+, A, A-
BBB+, BBB, BBB-
BB+, BB, BB-
B+, B, B-
CCC, CC, C, RD, D
Moodys: B1
Aaa
Aa1, Aa2, Aa3
A1, A2, A3
Baa1, Baa2, Baa3, Baa4
Ba1, Ba2, Ba3
B1, B2, B3
Caa1, Caa2, Caa3, Ca

Novo Banco, SA is rated by Moody's. Long-term credit rating assigned to the bank by Moody's is B1 (highly speculative).

Deposit Guarantee

Protected Amount
up to 100,000 EUR
Guarantee Fund
Fundo de Garantia de Depósitos (FGD)
Covered Depositors
natural persons
legal entities
Covered Accounts
current accounts
savings accounts
time deposit accounts

Novo Banco, SA participates in the deposit guarantee scheme of Portugal. This deposit guarantee scheme applies to current accounts, savings accounts, time deposit accounts made by natural persons, legal entities and covers up to up to 100,000 EUR per bank per depositor. Novo Banco, SA is a member of Fundo de Garantia de Depósitos (FGD) and makes its contributions into it.

Contacts

Av. da Liberdade, 195, 1250-142, Lisboa, Portugal

Novo Banco, SA is headquartered in Lisboa.

Bank Identifiers

BIC (SWIFT)
BESCPTPL
LEI
5493009W2E2YDCXY6S81
Company Number
513204016
MFI ID
PT7

Bank History

Previous Name
Banco Espírito Santo, SA

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