Brexit vote “makes Novo Banco even more difficult to sell”

The Brexit vote has left Novo Banco “reduced” at a sale prospect and efforts now are to find a buyer who can “assume future necessities of capital” without Portugal having to “spend any more money”. The “principal preoccupation” for bank regulators now, says Jornal de Negócios, is to cut Portugal’s losses. Novo Banco swallowed up €4.9 billion in its inception and has been losing money ever since.