Edition 1420
22 April 2017
Edition: 1420

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Novo Banco sale would be ‘convenient’ this year - top banker

by TPN/ Lusa, in Business · 21-12-2016 14:48:00 · 0 Comments

The chairman of the Portuguese bank association (APB), Faria de Oliveira, acknowledged in Porto that the sale of Novo Banco was “a difficult process” but he considered it would be “very convenient” if the deal was closed by the year’s end.

Speaking to reporters on the sidelines of a debate on the Future of Europe, he was commenting on the news published by Negócios newspaper that the decision on who is going to buy Novo Banco should only be taken in January and not in 2016 as the Bank of Portugal would prefer.
Negócios paper said the delay was because one of the bidders, China Minsheng Financial, needed more time to present the financial guarantees the Bank of Portugal demands.
“We are going to have to wait, what is important for us is that the sale process gets the best possible result and we get the best possible shareholder for Novo Banco”, Mr Faria de Oliveira said.

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Edition 1420
22 April 2017
Edition: 1420

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

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