Lisbon, May 5, 2025 (Lusa) - Novo Banco has approved a reduction in its share capital of €1.1 billion, with a planned distribution of funds to shareholders of €2.20 per share, the Portuguese bank said in a statement to the market on Monday. 

"Novo Banco informs that a share capital reduction totalling 1.1 billion euros has been approved, with the aim of freeing up excess capital," reads the statement sent to Portugal's Securities Markets Commission (CMVM). 

The reduction in the bank's share capital was approved at a general meeting of shareholders. 

Novo Banco was created in 2014 as the successor institution to Banco Espírito Santo, which was wound up that year.

EP/ARO // ARO.

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