Novo Banco, SA (formerly Banco Espírito Santo, SA)

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

Products

Financials

Total Assets (2016)
52 332.67 mln EUR  (-9.03%)
Net Income (2016)
-788 330 000.00 EUR  (-19.60%)

In 2016 total assets of Novo Banco, SA were 52 332,67 mln EUR. In 2016 the bank's net income was -788,33 mln EUR.

Novo Banco, SA is rated by Moody's. Long-term credit rating assigned to the bank by Moody's is Caa1 (substantial risks).

Novo Banco, SA participates in deposit guarantee scheme of Portugal. This scheme covers accounts up to 100 000 EUR per bank per depositor.

Contacts

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

Novo Banco, SA is headquartered in Lisboa.

Bank Identifiers

BIC (SWIFT)
BESCPTPL
MFI ID
PT7

Business Summary

Services
retail banking
corporate banking
insurance
Products
current accounts
debit cards
credit cards
prepaid cards
savings accounts
time deposit accounts (0.00 - 0.00 %)
investment funds
consumer loans
car loans
mortgage loans (2.58 - 2.58 %)

Novo Banco, SA provides products and services in the areas of retail banking, corporate banking, insurance. The range of products offered by Novo Banco, SA includes current accounts, debit cards, credit cards, prepaid cards, savings accounts, time deposit accounts (0.00 - 0.00 %), investment funds, consumer loans, car loans, mortgage loans (2.58 - 2.58 %).

Products

Time Deposit Accounts

Time deposits accounts are interest-bearing deposit accounts offering higher interest rates than savings accounts. However the money deposited to such account cannot be withdrawn for a specified period of time (term).

Time deposit accounts made with Novo Banco, SA are covered by deposit guarantee scheme of Portugal up to 100 000 EUR per depositor. Novo Banco, SA offers the following time deposit accounts.

Updated on 25 September 2018

Festgeld
Sales Region
Germany
Account Currency
EUR
Interest Rate (p.a.)
0.00 %
Deposit Term (months)
12
Time Deposit Account Details
Product Name
Festgeld
Account Currency
EUR
Interest Rate (p.a.)
0.00 %
Deposit Term (months)
12
Investment Amount
5000 - 100000 EUR
Interest Frequency
1 times a year

Germany: This product is offered to German residents only. When clicking on the product link you will be redirected to the product page in German.

See Also

Mortgage Loans

Mortgage loans are secured loans used for real estate financing purposes (for example, purchase of a new or existing property, construction of an own property, property renovation) without paying the entire value up front. A mortgage loan is secured by the collateral of specified real estate property and is repaid in installments. Mortgage loans offered by Novo Banco, SA are shown in the table below.

Updated on 25 September 2018

Sales Region
Portugal
Currency
EUR
Interest Rate (p.a.)
2.58 %
Max. Mortgage Term
40 years

Portugal: This product is offered to Portuguese residents only. When clicking on the product link you will be redirected to the product page in Portuguese.

See Also

Financial Positions

Total Assets (2016)
52 332.67 mln EUR  (-9.03%)
Total Equity (2016)
5 147.95 mln EUR  (-13.45%)

In 2016 total assets of Novo Banco, SA were 52 332.67 mln EUR. Decline compared to the previous period (2015) was -9.03%.

Recent changes in total assets of Novo Banco, SA and its main components are shown in Table 1.

2015 2016 % change
Cash and deposits with Central Banks 775.6 1 469.3 +89.43%
Loans to banks 1 637.5
Loans to other clients 31 583.8 28 184.4 -10.76%
Total Assets 57 529.4 52 332.7 -9.03%
Table 1. Recent changes in total assets of Novo Banco, SA (mln EUR).

Recent changes in total liabilities of Novo Banco, SA and its main components are shown in Table 2.

2015 2016 % change
Bank deposits 4 157.1 3 577.9 -13.93%
Deposits from other clients 27 582.1 25 989.7 -5.77%
Total Liabilities 57 529.4 52 332.7 -9.03%
Table 2. Recent changes in total liabilities of Novo Banco, SA (mln EUR).

Profit and Loss

Operating Income (2016)
936.45 mln EUR  (+12.64%)
Net Income (2016)
-788 330 000.00 EUR  (-19.60%)

Recent changes in gross profit of Novo Banco, SA and its main components are shown in Table 3.

2015 2016 % change
Interest Income 1 148.2
Interest Charges -900.5
Net Interest Income 450.7 514.5 +14.16%
Commission Income 471.5 378.4 -19.75%
Commission Charges -133.5 -113.0 -15.32%
Table 3. Recent changes in gross profit of Novo Banco, SA (mln EUR).

In 2016 net income of Novo Banco, SA was -788 330 000.00 EUR. Decline compared to the previous period (2015) was -19.60%.

Credit Ratings (as of May 2018)

Fitch Moody's
- (not rated) Caa1 (substantial risks)

Credit Rating is an opinion of a credit rating agency about credit worthiness of a company or a government. Novo Banco, SA is rated by Moody's.

Credit ratings assigned to Novo Banco, SA as of May 2018 are shown in details in the following sections.

Moody's

Long-term rating for Novo Banco, SA it is set to Caa1 (substantial risks). Long-term bank deposit rating is Caa1 (substantial risks). Baseline credit assessment is caa2. Short-term rating is not assigned.

Long-Term Rating  Caa1
Long-Term Bank Deposit Rating  Caa1
Baseline Credit Assessment  caa2
Short-Term Rating  -
Outlook  positive

Outlook for the ratings of Novo Banco, SA is set to positive (may be raised).

Deposit Guarantee

Deposit Guarantee
Yes (up to 100 000 EUR per depositor)

Deposit Guarantee Schemes compensate certain deposits held by depositors of a bank that becomes unable to meet its obligations.

All credit institutions operating in Portugal are obliged to participate in Portuguese deposit guarantee scheme.

In the case of Novo Banco, SA failure, eligible depositors having covered accounts in this bank will be paid out the following compensation:

Covered Accounts  any type of deposit, certificates of deposit
Covered Currencies  all
Maximum Protected Amount  100 000 EUR
Paid In Currency  EUR

Further Information

BIC

BIC (Business Identifier Code, also known as SWIFT code or SWIFT BIC) is a the mostly used international identifier of financial institutions. SWIFT is the registration authority for BICs. BICs are used in financial transactions, client and counterparty data bases, compliance documents and many others.

A BIC consists of eight or eleven characters, comprising a financial institution code (four characters), a country code (two characters), a location code (two characters) and, optionally, a branch code (three characters).

BIC of Novo Banco, SA and its components are shown in the table below.

BIC  BESCPTPL
Bank BIC Code  BESC
Country Code  PT (Portugal)
Location Code  PL
Branch Code  -

MFI ID

MFI ID (Monetary Financial Institution Identifier) is a code, unique to each institution in the MFI list provided by ECB (European Central Bank). MFI ID is hence applicable to MFIs resident in the European Union.

The code is alphanumerical, with the first two digits representing the two-digit ISO code for the country of residence of the MFI and the remaining number of digits (no limit has been specified) is any combination of alphanumerical characters.

MFI ID of Novo Banco, SA is shown in the table below.

MFI ID  PT7

European Presence: 6 banks in 5 countries

Novo Banco, SA operates under the brand name Novo Banco. This banking brand has presence in the following European countries and selected dependent territories of the European countries:

Cayman Islands

Luxembourg

Portugal

Spain

United Kingdom