Novo Banco, S.A. has announced the acquisition of exclusive control over the Unibanco business unit, including its associated activities, assets, and liabilities, from UNICRE – Instituição Financeira de Crédito, S.A.
Novo Banco is a Portuguese universal bank operating across the corporate, retail, and asset management sectors. Incorporated as a public limited company under Portuguese law, the bank’s core activities include lending, deposit-taking, asset management, and a wide range of financial services for individuals, businesses, and institutions. Novo Banco is currently the fourth-largest bank operating in the Portuguese market.
The acquired entity, Unibanco, forms part of UNICRE, a financial credit institution specializing in consumer credit, the issuance and management of credit cards, and the brokerage of insurance for financial products. UNICRE operates in the Portuguese financial sector as a specialist in payment solutions and consumer credit, providing services aimed at both individual and business clients.
With more than fifty years of experience, UNICRE has developed two main business lines: Unibanco, which offers credit cards, prepaid cards, personal loans, and debt consolidation loans, and Reduniq, which provides payment acceptance solutions for physical retail and e-commerce.
Through this transaction, Novo Banco strengthens its position in the consumer finance and payment services markets, expanding its product offering and reinforcing its presence in the retail banking sector. The acquisition remains subject to approval by the competent regulatory authorities.