Novobanco
“Can a resolution-bank-turned-restructured-lender achieve sustainable profitability and digital competitiveness in the Portuguese retail and SME banking market?”
Founded2014
HQLisbon, Portugal
IndustryBank / National
The story
Novobanco was created in 2014 as a resolution vehicle by the Bank of Portugal following the collapse of Banco Espírito Santo, inheriting BES's retail, corporate, and investment banking operations. Lone Star Funds acquired a majority stake in 2017, initiating a multi-year restructuring and profitability-focused transformation. The bank has since invested in digital channels and online lending products while maintaining a traditional banking model anchored in Portugal, with limited public disclosure of third-party embedded finance vendor relationships.
Last 12 months
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Product timeline
2014
Novo Banco, S.A. established by the Bank of Portugal as a 'bridge bank' to absorb the healthy assets of the failed Banco Espírito Santo (BES).· pivot
2017
Lone Star Funds acquired a 75% stake in Novobanco; Fundo de Resolução retained 25%.· acquisition
Regulated entities
National Bank Charter
Portugal (Banco de Portugal) · 2014
Novo Banco, S.A.
The stack
Lending
Accounting gap: significant