News

Portugal injects more capital in Novo Banco, without a debt increase

Page created: Tuesday, 27 February 2018 10:42 GMT

Thematic
Tags:
Capitalization  Novo Banco

As ECO announced, the capital reinforcement of Novo Banco should stand between 700 and 800 million euros, an amount that may vary until the closing of the accounts. The injection is justified by record losses the financial institution headed by António Ramalho should present in 2017, which should surpass 1,000 million euros. This is justified by a high level of impairments that will fall on the toxic assets that were under the Fund and Guarantee’s responsibility, which has a maximum amount of 3.89 billion euros.