Novo Banco profits fall 4% by September to 585.6 million

Novo Banco reported a profit of €585.6 million by September, a 4.1% decrease year-on-year, primarily due to rising operational costs. The bank's commercial banking product, which includes financial margin and commissions, increased by 2.5% year-on-year to €1.122.2 million, while operational costs rose by 11.1% to €426.9 million.