Lone Star’s Novo Banco Sees No Significant Rise in Bad Loans

CEO Bourke says there’s no need to raise additional capital
Lone Star owns a majority stake in the Portuguese bank

Mark Bourke, chief executive officer at Novo Banco SA, sees no significant uptick in non-performing loans as interest rates rise. He speaks with Bloomberg’s Tom Mackenzie and Francine Lacqua on “BloombergMarkets: European Open.”

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By Joao Lima

October 4, 2022 at 8:20 AM UTC

Updated on

October 4, 2022 at 10:16 AM UTC

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Portuguese lender Novo Banco SA said there hasn’t been a significant increase in non-performing loans in a context of rising interest rates and high inflation.

“We’re not seeing a significant uptick in stress or a significant uptick in the formation of non-performing loans,” Chief Executive Officer Mark Bourke said in a Bloomberg Television interview with Francine Lacqua and Tom Mackenzie in London on Tuesday.