Novo Banco

Novo Banco is a major Portuguese credit institution and the fourth-largest bank operating in Portugal. The bank was established on August 4, 2014, as a bridge bank following the resolution of Banco Espírito Santo (BES), which faced bankruptcy after historic losses of €3.6 billion.

Novo Banco operates as a universal service bank focused on domestic commercial banking for both corporate and retail clients. As of 2024, the bank serves approximately 1.7 million customers with total assets of €42 billion and holds a market share of approximately 9.2% in the Portuguese banking sector. The bank is supervised by the European Central Bank as a Significant Institution under European Banking Supervision.