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Novo Banco completes sale of 36.65% stake in online platform

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Novo Banco completes sale of 36.65% stake in online platform

Novo Banco SA completed the sale of a 36.65% stake in online sourcing and procurement platform Vortal SGPS SA to Vallis Sustainable Investments I SGPS SA.

The completion of the transaction results in a marginally positive impact on the Portuguese lender's common equity Tier 1 ratio.

The sale reflects Novo Banco's strategy to divest noncore assets while focusing on its core domestic banking activity.