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Portugal's Novo Banco in new phase of making profits, generating capital, CEO says

LISBON, June 1 (Reuters) - Portugal’s Novo Banco, finally purged of the toxic legacy it inherited from the collapsed Banco Espirito Santo, is focusing on boosting profits to increase shareholder value, its chief executive officer told Reuters on Tuesday.

The bank, controlled by U.S. private equity fund Lone Star, reported 70.1 million euros ($85.78 million) in quarterly profit and a 12% jump in net interest income on Monday after suffering billions of euros in consecutive losses since its rescue in 2014.

“It will be one of several quarters of positive results,” CEO Antonio Ramalho told Reuters in an interview, adding he aimed to boost profitability and generate capital internally. ($1 = 0.8172 euros) (Reporting by Sergio Goncalves, Editing by Victoria Waldersee and Nathan Allen)

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