Novo Banco lost €10 million a week over the first quarter

Lame duck, Novo Banco, lost €10 million a week in the first quarter of 2017 but is proud to announce this was 47.5% less than it lost over the same period in 2016.

What it’s directorate calls a ‘recovery with reduced costs and the decrease of provisions and compensation,’ to many will be a familiar scenario of acute fiscal hemorrhage resulting in €131 million in red ink accumulated between January and the end of March.

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