Results for Portugal
- Lloyds Banking Executive to Lead Troubled Portuguese Lender
The Bank of Portugal has appointed a new leader to run the ‘‘good’’ bank created after the bailout of the Portuguese lender Banco Espírito Santo, after the unexpected resignation on Saturday of its top management, the International New York Times Dea ...
Daily Headline - global.abi.org - 09/15/2014 - 21:40 - 0 comments
- Leadership Team Overseeing Portuguese Bank Resigns
The “good” bank created after the bailout of the Portuguese lender Banco Espírito Santo last month was dealt a setback on Saturday when the three-person management team selected to turn around its business abruptly resigned, the International New York ...
Daily Headline - global.abi.org - 09/14/2014 - 21:17 - 0 comments
- Banco Espírito Santo Secretly Lent Funds To Controlling Shareholder
Banco Espírito Santo secretly lent money to its controlling shareholder for two years, documents have revealed – raising fresh questions over the Bank of Portugal’s supervision of a lender that went on to suffer one of Europe’s largest financial collapse ...
Daily Headline - global.abi.org - 09/11/2014 - 21:44 - 0 comments
- Switzerland Investigates Bank With Ties to Espírito Santo Companies
A Swiss financial regulator said on Wednesday that it had initiated enforcement proceedings against a Swiss bank with ties to the Espírito Santo family’s troubled group of companies, the International New York Times DealBook blog reported. The Swiss ...
Daily Headline - global.abi.org - 09/03/2014 - 22:20 - 0 comments
- KPMG Refuses To Approve BES Accounts, Warns Of Further Loss
Auditor KPMG has refused to approve bailed-out Banco Espirito Santo's first-half report and accounts, published on Monday, citing the bank's failure to provide adequate information on its financial position and also warned of possible further l ...
Daily Headline - global.abi.org - 09/01/2014 - 20:47 - 0 comments
- Credit Suisse Played Role in Espirito Santo Collapse
Credit Suisse helped put together billions of dollars in securities that were issued by offshore investment vehicles of Banco Espirito Santo SA and then sold to the Portuguese bank's retail customers, the Wall Street Journal reported on Sunday. In t ...
Daily Headline - global.abi.org - 08/17/2014 - 20:12 - 0 comments
- Novo Banco To Take On BES's 3-Billion-Euro Angolan Loans
The healthy bank carved out of Portugal's heavily indebted Banco Espirito Santo will assume BES's 3 billion euros credit line to a troubled Angolan subsidiary but take provisions for losing the entire amount, the Bank of Portugal said on Tuesda ...
Daily Headline - global.abi.org - 08/12/2014 - 23:16 - 0 comments
- Association Says Portugal Banks to Work for Swiftest Sale of New BES
Portuguese banks will work together with the authorities for the swiftest sale of the new, healthy bank carved out of the troubled Banco Espirito Santo, the head of the Portuguese Banking Association (APB) said yesterday, Reuters reported. Fernando Faria ...
Daily Headline - abi_admin - 08/07/2014 - 14:08 - 0 comments
- Banco Espírito Santo Ruled Not to Be in Bankruptcy Event
A panel of the International Swaps and Derivatives Association today ruled that the Portuguese central bank's decision to break up Banco Espírito Santo won't trigger a payout on insurance-like contracts linked to the stricken lender's debt ...
Daily Headline - abi_admin - 08/06/2014 - 13:28 - 0 comments
- In Portugal, Central Bank Moves to Clean Up Banco Espírito Santo
Portugal’s central bank stepped up efforts to clean up the troubled lender Banco Espírito Santo and end its family control after the bank reported a stunning first-half loss of $4.8 billion that will force it to raise more capital, the International Ne ...
Daily Headline - global.abi.org - 07/31/2014 - 18:54 - 0 comments