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Novo Banco’s NPL Ratio Falls Below 15% After Sale of Nata II

20 November 2019 – Novo Banco, for the first time since its inception, has managed to reduce its NPL ratio below 15%. The reduction follows the sale of its Nata II loan portfolio. The bank announced last week that Portugal’s Resolution Fund had authorised the bank to sell the loan portfolio, resulting in its decreased exposure.

The bankadded that the Resolution Fund had used its prerogative to exclude some of the loans from the portfolio. Novo Banco noted that it had already removed ten debtor groups from the loan portfolio after encountering more advantageous solutions.

Original Story: Observador – Manuel de Almeida

Adaptation/Translation: Richard D. K. Turner