Novo Banco profits 610 million euros until September

Novo Banco achieved a positive net profit of 610.5 million euros in the first nine months of the year, in line with the profit of 610.4 million euros in the same period last year, the financial institution revealed in a statement released this Thursday.

In the third quarter, however, Novo Banco’s profit fell 26.9% year-on-year, to 175.6 million euros, a value that was also 31.8% below the gain achieved in the second quarter of this year.

In the first nine months, Novo Banco saw its commercial banking product fall by 2.8%, to 1,095 million euros, as a result of the combined effect of a 6.5% decline in the financial margin (the difference between income from interest on loans granted and expenditure on interest paid on customer deposits), to 829 million, and a 10.7% increase in customer services, to 266 million.

Although the margin was penalized by the context of falling interest rates, Novo Banco highlights that it had a “good performance in commercial activity”, benefiting from a “growth in commissions”.

The bank also recorded a 5% increase in its operating costs, to 384.2 million euros, leading the operating result to shrink 0.9%, to 783.6 million euros.

The CET1 capital ratio stood at 16.9%, while the RoTE (indicator of return on tangible capital) was 21.6%.

“The results for the first nine months of 2025 reinforce the robustness of our business model and keep us aligned with the objectives established for the year”, commented the executive president of Novo Banco, Mark Bourke, in the results release.

“The operation with the BPCE Group follows the normal course of regulatory processes, with both parties focused on completing the transaction expected for the first half of 2026”, added the manager, regarding the purchase operation of Novo Banco by the French from BPCE, which this Wednesday had new developments, with the formalization of the agreement to sell the minority position of the Portuguese State in the financial institution.