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. Novo Banco S.A., Succursale de Luxembourg operates as a branch of Novo Banco, SA (Portugal).
Novo Banco S.A., Succursale de Luxembourg 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 S.A., Succursale de Luxembourg is a member of Fundo de Garantia de Depósitos (FGD) and makes its contributions into it.
Novo Banco S.A., Succursale de Luxembourg is located in LUXEMBOURG.