Novo Banco says meets capital requirements after bond transfer

December 30, 2015 10:04 AM

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LISBON Dec 30 Novo Banco, the 'good bank' carved out of the failed Banco Espirito Santo (BES), now meets the capital requirements of the European Central Bank after transferring a series of outstanding bonds back to BES, it said on Wednesday.

The transfer, which was approved by the Bank of Portugal on Tuesday, means that Novo Banco will have a phased-in common equity tier 1 capital ratio of about 13 percent, it said in a statement.

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