TITLE

Portugal central bank in £3.9bn plans to save Banco Espirito Santo

AUTHOR(S)
Morris, Pamela
PUB. DATE
August 2014
SOURCE
Fundweb;8/ 4/2014, p10
SOURCE TYPE
Trade Publication
DOC. TYPE
Article
ABSTRACT
The article discusses initiatives taken by the central bank of Portugal to save Banco Espirito Santo bank by using the nation's remaining European Union (EU) bailout funds as it is reeling under a series of financial troubles. It is noted that Banco Espirito Santo will be divided into two banks namely a "good bank called Novo Banco to house its healthy assets and a "bad bank" for its riskier assets.
ACCESSION #
97346172

 

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