09:04 AM EST, 02/07/2025 (MT Newswires) -- Banco Santander (SAN) is not interested in acquiring Portuguese financial services company Novo Banco from private equity firm Lone Star, Bloomberg reported Friday.

"We don't want to buy Novo Banco," Santander CEO Pedro Castro e Almeida told reporters in Lisbon, Bloomberg reported. "We want to grow organically. We're very profitable."

Santander and Novo Banco did not immediately respond to requests for comment from MT Newswires.

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