Edition 1497
20 October 2018
Edition: 1497

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Novo Banco profitable once again

by TPN/Lusa, in News · 12-06-2018 08:35:00 · 0 Comments


Novo Banco made a profit of just over 60 million euros in the first quarter of the year, compared with a 130 million euro loss in the same period in 2017.

Novo Banco profitable once again

 

Novo Banco was created in August 2014 following the resolution of Banco Espírito Santo.

 

Back then 75 percent was sold to US Lone Start investment fund in October 2017 and the Resolution Fund kept the other25 percent.

 

Lone Star paid nothing for the bank but agreed to inject €1 billion into Novo Banco, which it has already done.

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Edition 1497
20 October 2018
Edition: 1497

Read this week's issue online exactly as it appears in print.

Twitter

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