Financial Glossary: De Novo


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De Novo

De Novo

In Financial terminology, numbers reported by newly founded companies (especially the financial services industry) are qualified as "de novo," to distinguish them from older companies.

For example, "growth de novo" means growth of newly started companies

De novo bank,is a State bank that has been in operation for five years or less.De Novo bank is a newly chartered bank, as opposed to a bank acquired through a purchase Acquisition or a newly opened branch banking office. Banking expansion can take place through chartering of new banks and approval of new branch office by state banking department, or through the Acquisition of existing bank (and banking offices De novo bank, a State bank that has been in operation for five years or less.

Posted by Institute for International Research

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