Novo Banco's Profits Fall to 585.6 Million Euros by September
5 Articles
5 Articles
Operating costs rose 11.1%, to EUR 426.9 million, and weighed on the results of the first nine months of 2026 of the financial institution.
Novo Banco's profits decreased by 4.1% to 585.6 million euros in the first nine months of the year. A reduction that the bank says results from extraordinary costs associated with the bank's sale process
The Novobanco closed the first nine months of 2026 with a net profit of 585,6 million euros, which represents a break of 4.1% compared to the 610.5 million recorded in the homologous period of 2025, penalized by the extraordinary costs with the sale to the French group BPCE, completed at the end of April.
The commissions have grown 0.1% to 266.2 million euros
New Bank sees less risk in credit, but recorded extraordinary costs with the sale to BPCE. The tax bill damaged and lowered the profit to 586 million euros.
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