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Portugal's Novo Banco says no business impact from probe into fired risk boss

Novo Banco's business won't be affected by the alleged misconduct that led it to dismiss its chief risk officer and the Portuguese bank remains focused on pursuing its strategy and delivering sustainable earnings,
The article from Reuters discusses that Portugal's Novo Banco has stated there will be no business impact from a probe into its former risk management head, Manuel Soares, who was fired in 2023. The bank confirmed that the investigation by the Portuguese Central Bank into Soares' dismissal would not affect its operations. Novo Banco emphasized that the issue was an internal matter related to the management of risk, and they have taken steps to ensure continuity and stability in their risk management practices. The bank also reassured stakeholders of its commitment to maintaining high standards of corporate governance and compliance.

Read the Full Reuters Article at:
[ https://www.reuters.com/business/finance/portugals-novo-banco-says-no-business-impact-probe-into-fired-risk-boss-2025-01-08/ ]