Novo Banco, the parent company of Macau-based Novo Banco Ásia, has registered a net loss of 467.9 million euros (MOP4.1 billion) since its creation, in 4 August 2014, to 31 December, the bank announced yesterday.
Provisions reached the amount of 699.1 million euros [MOP6 billion], which jointly with the impact accounted in taxes related with the change of the income tax rate, have pressured the results of Novo Banco, the Portuguese bank explained.
However, it was stressed in the results of Novo Banco sent yesterday to the Portuguese Securities Market Commission that deposits recovered by 4.2 billion euros (MOP36.5 billion) in the fourth quarter, which according to the bank underlines the customers confidence and a return to normality.
In February, the Chief Executive of Novo Banco, Eduardo Stock da Cunha, had already announced that the results would show the difficult period that the bank is going through.
Novo Banco was created in August, after Banco Espírito Santo was rescued and split into two. Novo Banco was created with the good assets from BES and it controls Novo Banco Ásia, which before was Banco Espírito Santo do Oriente (BESOR). At the moment, Novo Banco is going through an open tender to be sold, with the winner expected to be announced by the end of the first half of the year.
J.S.F.