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I assume there will be no more capital requests by Novo Banco, says Nani Holdings' president - Banca & Finanças.

I assume there will be no more capital requests by Novo Banco, says Nani Holdings’ president – Banca & Finanças.

Evgeny Kazarez, chairman of Nani Holdings, the company that took over the Lone Star position in Novo Banco, thinks the bank led by Antonio Ramallo should not ask for more capital injections. This is at a time when the restructuring has already ended and in a year it will already be profitable.

“Restructuring [do Novo Banco] “End of last year. In addition, the chief executive of the financial institution recently said that he expects the bank to become profitable in 2021,” said Evgeny Casares, when questioned by left-wing MP Mariana Mortagua in the Parliamentary Inquiry Committee. To Novo Banco, this Tuesday, on whether there will be more capital requests.

“Based on these facts, I assume that there will be no more capital requests under the conditional capitalization mechanism,” the head of “Nani Holdings” told MPs, “The official stressed, however, that he is not making decisions in the bank and that there are still eight months before the end of the year. . “Any budget is always a budget,” he said.

Within the scope of the emergency capitalization mechanism, Novo Banco has already requested nearly € 2.9 billion out of a total of € 3.89 billion. The bank has already said, based on the 2020 accounts, that it will need another 600 million. However, as the business progresses, only 430 million euros will be poured in. This is done through a bank financing line for the Resolution Fund, which could amount to € 475 million.