Novobanco

Novobanco, legally known as NB, S.A., is a Portuguese bank headquartered in Lisbon. It was founded in 2014 as part of the resolution of Banco Espírito Santo (BES). Following significant financial difficulties at BES, the Bank of Portugal implemented a resolution measure, transferring certain assets and liabilities of BES to a newly created institution, Novobanco.

Novobanco's creation aimed to safeguard customer deposits and ensure the stability of the Portuguese financial system. The bank's operations include retail banking, corporate banking, and investment banking services.

Over the years following its establishment, Novobanco underwent restructuring and recapitalization efforts, including the sale of shares to private equity firm Lone Star Funds in 2017. This investment aimed to strengthen the bank's capital position and facilitate its long-term viability. The bank continues to operate in Portugal and select international markets. Its performance and stability are closely monitored by regulators and stakeholders due to its origins in the BES resolution and its systemic importance within the Portuguese banking sector. Novobanco's ongoing strategy focuses on improving its financial performance, streamlining operations, and strengthening its risk management practices.