Created by Anna Mileiko 
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.
In 2023, NOVO BANCO, S.A. achieved the position of 4th largest bank in Portugal with a market share of 11.56%; its total assets dropped by 5.10%.
Additionally, the bank became the 15th bank in relation to its loans-to-deposits (L/D) showcasing 83.95% L/D ratio in 2023.
Deposits up to 100,000 EUR are covered by Portuguese deposit guarantee scheme in NOVO BANCO, S.A.
Portugal
internationally
Germany
EUR (Euro)
Becoming a client of NOVO BANCO, S.A. can be done in a few steps:
NOVO BANCO, S.A. performs client's identity verification via video call.
branch
online banking
mobile app
NOVO BANCO, S.A. ranks as the 4th largest bank in Portugal by total assets. In 2023 its total assets were 43,146.26 mln EUR, representing a 11.56% market share. In 2023 the bank's net income was 800.66 mln EUR. As of 2023, the bank employed 3,920 people.
NOVO BANCO, S.A. is rated by Moody's. Long-term credit rating assigned to the bank by Moody's is Baa3 (lower medium grade).
Fundo de Garantia de Depósitos (FGD)NOVO BANCO, S.A. protects deposits up to up to 100,000 EUR per depositor through Portugal's deposit guarantee scheme. The scheme applies to current accounts, savings accounts, time deposit accounts made by natural persons, legal entities. The bank participates in the Fundo de Garantia de Depósitos (FGD), making regular contributions into it.
Campus do Novobanco, Avenida Doutor Mário Soares, Taguspark, Edifício, 2740-119, Porto Salvo, PortugalNOVO BANCO, S.A. is headquartered in Porto Salvo.
