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Novo Banco posts record loss, remedied by Portugal resolution fund

Page created: Thursday, 29 March 2018 10:06 GMT

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Financial Results   Novo Banco

The annual loss, up 77 percent from 2016 due to a 50 percent rise in impairments and a drop in net interest income, meant that the unlisted bank needed 791.7 million euros from the resolution fund, which holds a 25 percent stake in the bank.