LISBON, Aug 1 Reuters The three equity owners of Portugal39;s Novo Banco appear to be in agreement that they should lift a ban on the bank making dividend payouts, which would allow the lender to launch an initial public offering in early 2025, CEO Mark Bourke told Reuters on Thursday.

Novo Banco was created in 2014 from the Portuguese government39;s bailout of collapsed private bank BES. Since 2017 Novo Banco has been 75owned by U.S. private equity Lone Star, with the Portuguese resolution fund and the state owning the remaining 25 stake.

Novo Banco was banned from making dividend payouts until December 2025 as part of a contingent capital mechanism set up when it was sold to Lone Star in 2017.

However, Chief Executive Bourke said there is a kind of common vision of Lone Star, the Portuguese resolution fund and the state that there is a benefit to a dividend block not being in place.

This is a conversation that has to take place… if everybody agrees with everything, you know, almost immediately, then we would have a regulatory discussion about taking excess capital out, Bourke said in a telephone interview with Reuters.

Novo Banco, Portugal39;s fourth largest bank, is overcapitalized with a core Tier1 fully loaded capital ratio of 19.9, well above the minimum requirement of 9.3, as it cannot distribute dividends.

Bourke also said the bank and supervisors would have to adjust the lender39;s minimum requirement for its own funds and eligible liabilities MREL to…