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,

Novo Banco fired its chief risk officer following an internal probe into what it described as “suspicious” financial transactions.

Portuguese bank Novo Banco, S.A., fired Chief Risk Officer Carlos Jorge Ferreira Brandão "with just cause" after an internal probe discovered "suspicious financial transactions" in his sphere.