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Former Novo Banco boss agrees good bank may end up nationalised

After all the agony and recriminations, Novo Banco’s former boss, economist Vítor Bento, has gone on record saying the ‘good bank’ may never find a willing buyer and could end up nationalised.

Talking to Diário Económico and Antena 1 radio, Bento said the issue centres not only on Novo Banco no longer being “very favourable” as a prospect, but
on the fact that banks generally are vulnerable and so unlikely to bid the €4.9 billion that the government and Bank of Portugal ploughed into it.