Portugal

Results for Portugal

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

Banco Espirito Santo Posts Loss Of €3.58 Billion

fell 10.6 per cent on Wednesday to close at an all-time low of €0.347. The bank’s stock has lost almost ...

Daily Headline - global.abi.org - 07/30/2014 - 22:07 - 0 comments

Bank Of Portugal Says BES Loss Can Be Remedied By Capital Hike

Portugal's central bank said late on Monday that if Banco Espirito Santo posts a loss larger than its existing capital cushion of 2.1 billion euros ($2.8 billion), a capital increase will be used to guarantee adequate solvency levels, Reuters report ...

Daily Headline - global.abi.org - 07/28/2014 - 20:27 - 0 comments

Espírito Santo Financial Group Seeks Creditor Protection

Espírito Santo Financial Group SA, which holds 20% of Portuguese lender Banco Espírito Santo SA, has filed for creditor protection in Luxembourg, becoming the third company in the group to do so in less than two weeks, The Wall Street Journal reporte ...

Daily Headline - global.abi.org - 07/24/2014 - 22:04 - 0 comments

Portuguese Holding Company Seeks Protection

Espirito Santo International, one of the holding companies of Portugal’s Espirito Santo banking family, filed for creditor protection in Luxembourg on Friday as the business empire’s problems also spilled over to Angola, where the central bank said the l ...

Daily Headline - global.abi.org - 07/20/2014 - 17:48 - 0 comments

Portugal Telecom May Sue BES Over Unpaid Family Company’s Debt

Banco Espirito Santo (BES) could be sued over a loan that one of its founding family's holding companies failed to repay to Portugal Telecom, sources said on Thursday, as credit rating agencies downgraded the bank and its key shareholder. Still, Fin ...

Daily Headline - global.abi.org - 07/17/2014 - 21:25 - 0 comments

Syndicate content