"Novo Banco involves the stability of the Portuguese financial system (…). Haitong will make every effort to find ways to resolve the case of Novo Banco", Hiroki Miyazato said on Monday when questioned by reporters about the informal offer the bank made to acquire part of Novo Banco.

When Banco Espírito Santo (BES) was bailed out in August 2014, BES Investimento was integrated into Novo Banco and then sold in September 2015 to Chinese group Haitong for €379 million and renamed Haitong Bank.

Hiroki Miyazato is the president of the board of directors of Haitong Bank, while José Maria Ricciardi is the CEO as he was of BES Investimento.

Novo Banco is currently on sale for the second Tim after the first attempt was suspended in September 2015, as the Bank of Portugal did not consider any of the offers interesting enough.