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Novo Banco SA

The bank was founded in 1920 following the transformation of the banking house of the same name, which in turn had come into being by merger of several financial structures created by José Maria do Espírito Santo e Silva in the second half of the 19th century. The bank has been listed on the Portuguese stock exchange since 1991. In July 1999 the name was changed to the current one. The bank merged with Banco Internacional de Credito SA in December 2005. Since 2007 it has been the only Portuguese bank included in FTSE4Good Index. As of September 2011 the bank ranks second in Portugal in terms of net asset value (EUR 80.2 billion) and number of clients (2.1 million all over the world). The bank accounts for 20.3% of the Portuguese financial services market. The bank has subsidiaries, branches, and representative offices in 23 countries. Its main investments are concentrated in Brazil, Spain and Angola. July 30, 2014 Banco Espirito Santo SA reported losses and assets transferred to new structure - Novo Banco


1 640 USD
General Information
Banking products
The bank provides a wide range of banking and financial services, including retail and corporate banking, private banking, asset management, investments and loans
Account Types
Personal; Corporate; Savings; Current
Minimal Requirements
Minimum balance, €
For savings accounts – EUR 350.000. For trading accounts – NO MINIMUM BALANCE
Permissible number of transfers per month
For trading accounts, there is no restriction on the number of transfers
Efficiency of payment
2 days, same-day payments are available. The cut-off time is 13.00 local time
Transfer, € (for the amount of € 50 000)
The fee on outgoing transfers to Eurozone of up to EUR 50.000 – EUR 3.75 EUR. The fee on all other outgoing transfers – 0.25% of the transferred amount, but not more than EUR 110. The same-day transfer fee – EUR 22.5
Crediting, € (for the amount of € 50,000)
The fee on incoming transfers of up to EUR 50.000 - 0%. The fee on incoming transfers of over EUR 50.000 – EUR 10
Account maintenance, € / year
EUR 50 per month. For amounts exceeding EUR 10.000, an interest accrues monthly at the rate LIBOR minus 0.5%
Account Opening

An apostilled set of constitutive documents, an apostilled certificate of good standing, copies of passports of the beneficial owner and account signatory

Departure to the bank
Not required, but it is recommendable to have a meeting with the banker on his next visit to Russia (3 or 4 visits per year)
Duration of application, months
For savings accounts, the initial deposit can be made within 1 year. For trading accounts, there are no deadlines