“The ABESD — the Association for the Defense of BES Victims — considers it profoundly symbolic that on the very day the State concludes the sale of Novo Banco, the Judicial Police conduct searches at the institution and its auditor,” the association stated in a communiqué.
According to the association, this coincidence is ironic, “if not even revealing of a certain moral justice,” emphasizing that confidence in the financial system remains shaken.
The ABESD also argued that the sale process of Novo Banco cannot be presented as a success while there are still 1,900 small savers without any compensation.
The association insisted that restoring confidence in the Portuguese financial system requires the reparation of victims, compensation of the State, the swift trial of those responsible, and enhanced supervision.
“It is estimated that the criminal trial will not conclude before 2028, and ABESD questions how many crimes will expire by then, how many seized funds from the defendants will be released, and how confidence can be restored if the Government does not take action,” it warned.
The Judicial Police conducted searches today at the headquarters of Novo Banco and the premises of consultancy KPMG in Lisbon, confirmed an official source from the police, who declined to provide further information.
According to CNN Portugal, which first reported the news of the searches, the suspicions involve crimes related to the sale of assets from the defunct Banco Espírito Santo.
The Minister of State and Finance, Joaquim Miranda Sarmento, asserted today that the operation to sell Novo Banco enhances the diversification of the national banking system and prevents “excessive concentrations.”
“This operation reinforces the diversification of the national banking system, preventing excessive concentrations and ensuring the balance and competitiveness of the Portuguese financial market,” stated Joaquim Miranda Sarmento at the ceremony for the signing of the agreements for the Portuguese State and the Resolution Fund’s adherence to the Novo Banco sale contract in Lisbon.
The minister was the last to speak at what he described as “a moment of special significance.”
In June of this year, the sale was agreed to the French banking group BPCE for 6.4 billion euros.
