Portuguese bank tries to reassure markets

(AGI) Lisbon, July 11 - The BES, Banco Espirito Santo,Portugal's biggest bank in terms of market capitalisation,tried to reassure the markets on Friday. "BES ExecutiveCommittee believes that the potential losses resulting from theexposure to Espirito Santo Group do not compromise thecompliance with the regulatory capital requirements," the banksaid. The chain of ownership is complicated. BES is 25 percentowned by Espirito Santo Financial Group, which is 49 percentowned by Espirito Santo Irmaos SGPS SA, which in turn is fullyowned by Rioforte Investments, which is fully owned by EspiritoSanto International (ESI). .

11 luglio 2014, 10:02
(AGI) Lisbon, July 11 - The BES, Banco Espirito Santo,Portugal's biggest bank in terms of market capitalisation,tried to reassure the markets on Friday. "BES ExecutiveCommittee believes that the potential losses resulting from theexposure to Espirito Santo Group do not compromise thecompliance with the regulatory capital requirements," the banksaid. The chain of ownership is complicated. BES is 25 percentowned by Espirito Santo Financial Group, which is 49 percentowned by Espirito Santo Irmaos SGPS SA, which in turn is fullyowned by Rioforte Investments, which is fully owned by EspiritoSanto International (ESI). . .