Portugal's Novo Banco in new phase of making profits, generating capital, CEO says

Banco Espirito Santo SA em Liquidacao

01/06/2021 17:33

By Sergio Goncalves
    LISBON, June 1 (Reuters) - Portugal's Novo Banco, finally
purged of the toxic legacy it inherited from the collapsed Banco
Espirito Santo, is focusing on boosting profits to increase
shareholder value, its chief executive officer told Reuters on
Tuesday.
    The bank, controlled by U.S. private equity fund Lone Star,
reported 70.1 million euros ($85.78 million) in quarterly profit
and a 12% jump in net interest income on Monday after suffering
billions of euros in consecutive losses since its rescue in
2014.  urn:newsml:reuters.com:*:nS8N2MU06A
    "It will be one of several quarters of positive results,"
CEO Antonio Ramalho told Reuters in an interview, adding he
aimed to boost profitability and generate capital internally.

($1 = 0.8172 euros)

 (Reporting by Sergio Goncalves, Editing by Victoria Waldersee
and Nathan Allen)
 ((n.allen@thomsonreuters.com; +34 617 792 131;))