Novo Banco - BA1 Credit Score, Aims for IPO

[inector]

Novo Banco started to improve since COVID.

Novo Banco, S.A.: Update following upgrade of deposit ratings to Ba1 and senior unsecured debt ratings to Ba3; outlook remains positive

They seem to accept foreign businesses as well. Being 4th largest private bank in Portugal - that adds significance to it.

They apparently even want to do an IPO soon:

Portugal's Novo Banco 2022 profit triples, could pave way for IPO

Portugal's fourth-largest bank, Novo Banco, announced on Thursday that profit tripled in 2022, boosted by higher interest rates and fewer non-performing assets, and said the strong results could pave the way for an eventual initial public offering.

www.reuters.com

Martin mentioned that it's garbage in 2019, but do things look better now?

Euro Pacific bank is a scam

As of August 17, 2021 (last revised), "Funds" has changed from "Eligible" to "Ineligible" https://www.frbservices.org/EPaymentsDirectory/detailFedwire.html?referredBy=fedwireResultsPage&aba=021502820 Thanks. Well that explains why I could not find them. Fed indeed closed their account....lol...

www.offshorecorptalk.com

But then, total assets & employees kept declining for like 5-7 consecutive years.

A good choice?

 

[jafo]

My personal experience with them.

I have an account with them. It was a take-over account from Banco Espirito Santo (or another...I can't remember now but the account was opened in 2002). They are very difficult to deal with online or on the phone and I speak their local language. *BUT*...ALL problems suddenly disappear when I show up in person at any of their branches. I have to admit that. In-person, everything works smoothly. I can go to their bank and tell them I will receive 7 digits on such and such date. Speak to the branch manager and voilà! No issues. Sending them an email or trying to do it by phone, they'll block /freeze/question €100.

YMMV!

 

[inector]

bump

They open accounts for foreign business, I believe it's underhyped on the forum, could be discussed more. Or is there reason to it?