That restructuring is expected to be announced imminently

Portugal’s BES insists family losses will not put bank at risk

buy canada goose jacket (Clarifies that guarantees were granted by BES, not the borrower companies, in par 13, and that 2.1 bln capital surplus, in par 7, includes June share sale) buy canada goose jacket

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canada goose uk shop LISBON/LONDON, July 11 (Reuters) canada goose outlet germany Losses on loans to the troubled business empire of its founding canada goose outlet washington dc family canada goose outlet black friday sale will not put Banco Espirito Santo at risk of running short of capital try this out , canada goose outlet in canada the bank said on Thursday night. canada goose uk shop

Canada Goose Coats On Sale Shares in Portugal largest listed bank were suspended on Thursday after plunging as much as 19 percent in morning trading amid fears about canada goose outlet store calgary its exposure to companies in the wider group controlled by the powerful canada goose outlet usa Espirito Santo clan. Canada Goose Coats On Sale

canada goose store The ripples of the crisis extended to other vulnerable euro zone countries. Spain Banco Popular called off a 750 million euros ($1.02 billion) bond issue, and Greece managed to place just half of a planned 3 billion euros bond issue. canada goose store

uk canada goose outlet The interest rate on Portugal 10 year bond rose from canada goose outlet store uk recent lows to above 4 percent. uk canada goose outlet

canada goose coats on sale In a late night statement that paved the way for the canada goose jacket outlet store bank shares to resume trading on Friday, BES attempted to diffuse a canada goose outlet toronto location situation that many feared was spiralling canada goose factory outlet toronto location out of control. canada goose coats on sale

Executive Committee believes that the potential losses resulting canada goose outlet legit from the exposure to Esprito Santo Group do not compromise the compliance with the regulatory capital requirements, the bank said, adding that it had 2.1 billion euros extra capital beyond regulatory minimums as of March 31.

canada goose clearance That 2.1 billion euros capital also includes 1.045 billion euros in a June share sale canada goose outlet ontario that saw the Espirito Santo family lose control of the bank and prompted its patriarch, Ricardo Espirito Santo Salgado, to step down as the bank chief. canada goose clearance

Canada Goose Jackets DETAILED BREAKDOWN Nonetheless, concerns about its financial position canada goose discount uk mounted as other companies in the Espirito Santo empire showed signs of distress. Canada Goose Jackets

buy canada goose jacket cheap BES said on canada goose outlet in chicago Thursday night that it is for the release of the restructuring plan of Esprito Santo Group in order to assess the potential losses related to its exposure. That restructuring is expected to be announced imminently. buy canada goose jacket cheap

Canada Goose Online The bank statement also gave the most detailed breakdown yet of its exposure to other Espirito Santo group companies, but revealed slightly higher levels of exposure than those disclosed on a conference call on June 30. Canada Goose Online

uk canada goose The latest revelations put BES total exposure for Rio Forte (a holding company owned by ESI) arconserve , ESFG and their subsidiaries was 1.15 billion euros as of June canada goose parka outlet 30. On a conference call on June 30, the bank detailed 980 million euros of exposure to Rio Forte and ESFG. uk canada goose

canada goose clearance sale The statement also listed guarantees of 17.6 million euros for Rio Forte and ESFG. BES said on Friday morning that the figure referred to guarantees from the bank to Rio Forte and ESI, and not to guarantees given canada goose outlet in toronto by the holding companies in respect of their borrowings. The extent of those guarantees, or the loans collateral, is unclear. canada goose clearance sale

Canada Goose Parka The latest statement lists the loans and other exposures by canada goose outlet jackets named borrowers within the Espirito Santo company structure, in a move that canada goose shop uk may appease analysts who were critical of the absence of a detailed breakdown on the June 30 call. Canada Goose Parka

canada goose factory sale Further detail on BES financial situation will be given on June canada goose outlet in vancouver 25 when the bank releases its half year results. Shareholders will canada goose outlet edmonton meet six days later to vote on a new chief executive and new directors, after family members said they would step down from the bank 25 man board canada goose factory sale.

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