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:
https://www.reuters.com/markets/eur...r-interest-rates-lower-provisions-2023-03-09/
Martin mentioned that it's garbage in 2019, but do things look better now?
https://www.offshorecorptalk.com/threads/euro-pacific-bank-is-a-scam.30470/post-187138
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?