PremiumDeloitte's audit of Novo Banco only arrives in August

Prime Minister guaranteed that the audit of the management of Novo Banco would be known at the end of this month of July, despite the fact that Deloitte asked for more time. Final report will only be ready in August.

The final Deloitte audit report on the management of BES / Novo Banco, for the period from 2000 to 2018, namely on problematic credits and sale of discounted properties, will only be delivered to the Government until the end of August. The conclusions will thus be delivered after this Friday, July 31, the date that the Prime Minister guaranteed that the audit of the Novo Banco management would be known and sent to Parliament, after the Executive had refused to give the consultant more time to complete the work.

The high “complexity” of this audit means that Deloitte will only deliver a preliminary report within the deadline set by the Minister of Finance, a source close to the process told Jornal Económico.

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Finance “regret” that Deloitte will send only the preliminary version of the audit to Novo Banco tomorrow

"In the context of this delay, the Government considers that, until the conclusion of the referred audit, no further operations should be carried out for the sale of unproductive assets portfolios by Novo Banco", underlined the ministry led by João Leão.

António Ramalho is available to go to Parliament to clarify the sale of real estate "until August"

Novo Banco reacted again to the news published about the sale of the real estate asset portfolio, held in 2018, under the name “Viriato” project. The financial institution's CEO, António Ramalho, is available to go to Parliament to provide information "in August".
João Paulo Correia

PS wants to hear Novo Banco in Parliament on property sales

João Paulo Correia explained that the party wants to hear the administration of Novo Banco and the Resolution Fund in the reopening of Parliament to “know if the public interest is being well defended or not being well defended”.

Abanca without interest in Eurobic. Spanish bank says it wants to grow through acquisitions in Portugal

When asked whether interest in resuming negotiations for the purchase of EuroBic would continue, the Spanish banker dismissed this possibility outright.

Abanca reduces profits by 47% to 133 million euros

Juan Carlos Escotet said that Abanca definitely gave up on EuroBic, “but that he remains very attentive and interested in growing in Portugal and attentive to opportunities”, as Portugal is an important market for the Spanish bank. Abanca constituted impairments in the amount of 163 million euros due to the Covid-19 pandemic.

Fitch: Montepio with the worst capital ratio and BCP with the largest dimension of problematic assets

Fitch carried out a comparative study of six banks - CGD, BCP, Novo Banco, Santander Totta, BPI and Banco Montepio. It compared the capital ratio of each with the regulatory requirements and compared the weight of the net problematic assets in the capital of better quality. Montepio and Novo Banco do worse in photography. BCP has a higher volume of problematic assets, but these weigh less on capital.