Skip to main content

Bank of Portugal splits failed bank BES in 'clean’ resolution

Grant Lewis says ECB health check led to revelation of bank’s problems

bancodeportugal
Banco Espírito Santo

The Bank of Portugal announced a package of resolution measures for the beleaguered Banco Espírito Santo (BES) last night, which saw BES split in two and the ‘good bank' recapitalised with €4.9 billion ($6.6 billion).

The viable assets held by BES have been transferred to a new institution – Novo Banco – which received a loan of €4.9 billion from the country's resolution fund, so "the state will bear no costs" in the process, according to the Bank of Portugal.

The fund is made up of

Solo los usuarios que tengan una suscripción de pago o formen parte de una suscripción corporativa pueden imprimir o copiar contenido.

Para acceder a estas opciones, junto con todas las demás ventajas de la suscripción, póngase en contacto con info@centralbanking.com o consulte nuestras opciones de suscripción aquí: subscriptions.centralbanking.com/subscribe

Actualmente no puede copiar este contenido. Póngase en contacto con info@centralbanking.com para obtener más información.

Sorry, our subscription options are not loading right now

Please try again later. Get in touch with our customer services team if this issue persists.

New to Central Banking? View our subscription options

Regístrese en Central Banking

Todos los campos son obligatorios, salvo que se indique lo contrario.

Mostrar contraseña
Ocultar contraseña

Most read articles loading...

You need to sign in to use this feature. If you don’t have a Central Banking account, please register for a trial.

Iniciar sesión
You are currently on corporate access.

To use this feature you will need an individual account. If you have one already please sign in.

Sign in.

Alternatively you can request an individual account

.