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Novo Banco wants to sell more than €430M in assets
11 May 2020 | Ana Tavares

Novo Banco wants to sell a set of buildings estimated at 430 million euro this year, as advanced by António Ramalho this week.

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The information was provided by the president of the bank to Economico. After selling Herdade do Pinheirinho to VIC Properties for 60 million euro, the idea is to keep selling real estate «before we have to provide it».

This strategy was caused by the fact that the banking sector should also feel the impact of the pandemic. At the beginning of the month, Financial Times reported that the European banking sector has had to safe keep nearly 50.000 million euro to face NPLs, reminded Eco.