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Novo Banco recovers its debt with ″ planes and yachts.  It will be a "success story"

Novo Banco recovers its debt with ″ planes and yachts. It will be a “success story”

Novo Banco CEO said on Saturday that the organization would be considered a “case of success”, with already positive results in 2021, and argues that it has been difficult to recover large debts, including “aircraft and yachts”.

In an interview with Antina 1 and Journal de Negossius, Antonio Ramalho asserted that the “absurd criticisms” leveled against Novo Banco “do not take into account the truth” of the facts.

“I can say with certainty that we will be considered a case of success. There are still a few years left to be recognized as such, but the truth is that we are a case of success,” stressed the manager.

He added: “For the year 2021, despite the epidemic, I assure you that the bank will achieve positive results, and thus will prove its feasibility.”

Regarding the bad guy, Antonio Ramalho rejected the notion that the bank was taking a negative stance, stressing that it was trying to “achieve the greatest possible recovery.”

He gave examples: “In many cases I have recovered, have recovered planes and yachts.”

Novo Banco CEO has argued that the foundation has been tough on debt recovery.

“We believe that we are strong and we have 90,000 lawsuits and we are handling the cases harshly and we are suffering from that in the skin,” he said, referring to the existing pressures.

“Do not imagine the calls, threats, and the use of less legitimate means against the managers who are leading this process,” he said.

In response to a question about whether these pressures are also against him, he concluded: “Naturally.”

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Regarding the settlement fund, Antonio Ramallio confirmed that he had “brutal” knowledge of the bank’s accounts, and if the injection was less than the demand, he said: “We will live with it and then analyze it.”