Lisbon, April 30, 2026 (Lusa) – The sale of Novo Banco was finalised on Thursday, with the bank being sold to the French group BPCE for €6.7 billion, the finance ministry said in a statement.
The shareholders (the US fund Lone Star, with a 75% stake, and Portugal's state, with a 25% stake) announced the sale of Novo Banco to the French banking group BPCE in June 2025 for €6.4 billion.
The government said that following a supplementary agreement in October, the valuation was revised upwards to €6.5 billion by late 2025.
The finance ministry said that a capital increase for Novo Banco took place in 2026, meaning that the final acquisition price reached €6.7 billion as of 30 April 2026.
With the sale of Novo Banco for €6.7 billion, the state will receive €1.673 billion (€906 million for the Resolution Fund and €766 million for the Treasury and Finance Department).
The finance ministry added that the proceeds from the sale, combined with dividends already paid, enabled the state and the Resolution Fund to recover around €2 billion of the capital injected into the bank.
Lone Star, as the majority shareholder, will receive around €5 billion from the sale.
The finalisation of this deal marks the state's total exit from the bank, which was established nearly 12 years ago to protect depositors following the resolution of Banco Espírito Santo (BES).
According to Lusa’s calculations, the BES resolution has cost the public coffers approximately €8 billion (mainly due to the initial capitalisation of Novo Banco and the Resolution Fund recapitalisations), meaning that the state's proceeds (from dividends and now from the sale) reduce this figure.
Quoted in the press release on Thursday, the finance minister, Joaquim Miranda Sarmento, said that the sale allowed the state to close this chapter.
“The sale of Novo Banco to one of Europe’s largest banking groups allows us to close a turbulent chapter in our history, demonstrating credibility and resilience.”
“Despite the challenges of this process, we have successfully concluded this operation, safeguarding what matters most: the stability of Portugal’s financial system,” he said.
The formalisation of the sale of Novo Banco took place without a public ceremony, with the various parties involved issuing statements.
On Thursday, Novo Banco announced profits of €200.7 million for 2026 Q1, up 13.2% on the first three months of 2025.
IM/MYAL // ADB.
Lusa
