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 2017 total assets of Novo Banco, SA were 52 054,85 mln EUR. In 2017 the bank's net income was -1 395,45 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.
Novo Banco, SA is headquartered in Lisboa.