Novo Banco profits fall 4.1% to €585.6 million through September

Novo Banco reported a 4.1% year-on-year decline in profits for the first nine months of the year, while operating costs rose 11.1% to €426.9 million.

3 Nov 2026

Novo Banco recorded profits of €585.6 million through September, down 4.1% from the same period a year earlier. The Portuguese financial institution said the increase in operating costs was a key factor behind the decline.

In a statement to Portugal’s Securities Market Commission, the bank reported that commercial banking income, which includes net interest income and commissions, rose 2.5% year on year to €1,122.2 million. Operating costs increased 11.1% to €426.9 million.

Sources: Observador.