Novo Banco SA

The bank was founded in 1920 by transforming the banking house of the same name that appeared, in turn, by combining a number of financial institutions established in the second half of the 19th century, José Maria do Espírito Santo e Silva. Since 1991, the bank's shares are listed on the Portuguese stock exchange. In July 1999, the name was changed into the present one. In December 2005, it merged with Banco Internacional de Credito SA. Since 2007, this is the only Portuguese bank included in the FTSE4Good Index. As of September 2011, the bank ranks second in Portugal regrding the net asset value (80.2 billion EUR) and the number of clients (2.1 million worldwide). The Bank's share in the market of financial services in Portugal is 20.3%. The Bank has subsidiaries, branches and representative offices in 23 countries, major investments are concentrated in Brazil, Spain and Angola. On July 30, 2014, Banco Espirito Santo SA reported that losses and assets were transferred to the new structure - Novo Banco