Novo Banco president quits ‘two years early’
Sources deny decision linked to ‘investigations’ underway Novo Banco’s executive president António Ramalho is quitting two years earlier than anticipated. Reports today suggest he will remain in place long enough
Novo Banco lets courts decide who Venezuela’s €1.5 billion belongs to
Novo Banco has said it is up to the courts to decide the (long-running) controversy over who the billion-plus dollars/ euros in Venezuelan deposits held in Portugal actually belongs to.
Novo Bank “stuck” with Russian Gazprom debt; “stands to lose millions of euros”, say reports
Depending on which news outlets one reads, Portugal’s Novo Banco is said to be seriously exposed to Russian debt, standing to lose many millions of euros. Tabloid Correio da Manhã
ECB investigates relationship between president of Novo Banco and former Benfica boss facing multiple counts of corruption
The European Central Bank is investigating “the issue of the relationship” between António Ramalho, the executive president of Novo Banco – the bank for which taxpayers have stumped up billions
Novo Banco gets yet further millions – even when parliament voted ‘the gravy train has to stop’
Novo Banco has just received another multi-million euro State bung – even though parliament voted against the bank that rose from the ashes of BES getting another cent of taxpayers’
Novo Banco advances with ‘internal audit’ in wake of Operation Red Card revelations
Novo Banco has decided to ‘advance with an internal audit’ into the conduct of directors and former directors in the wake of all the revelations emerging from Operation Red Card
Bank staff in “psychological terror” take to streets to defend their jobs
Banking staff from some of the largest banks in Portugal are living “moments of psychological terror”, reports Jornal de Notícias today. They are being forced to rescind contracts and take
Benfica ‘boss’ Luís Filipe Vieira arrested in massive swoop on homes, businesses, banking and law offices
Benfica president Luís Filipe Vieira was arrested today as part of an investigation into suspicions of fraud, abuse of trust and money laundering. He is being held overnight at the
Parliament approves date extension of Novo Banco inquiry
The Portuguese parliament has approved extending the date limit of a public inquiry into alleged mismanagement at Banco Espírito Santo which collapsed in 2014 and its successor Novo Banco which
Novo bombshell: Accounts Court says taxpayers paying to bailout Novo Banco, final bill could top €10 billion
After all the expedient political spin, Portugal’s Accounts Court has come out and said it: it is the country’s taxpayers who are footing the bill to ‘bailout’ Novo Banco “contrary