BREAKING NEWS

BREAKING NEWS

Former BES boss blames Lisbon government for bank failure

 Comments
Now Reading:

Former BES boss blames Lisbon government for bank failure

Former BES boss blames Lisbon government for bank failure
Text size Aa Aa

The former head of Portugal’s failed BES bank has claimed its collapse could have been avoided.

During a much anticipated appearance before a parliamentary commission former boss Ricardo Espirito Santo Salgado blamed the Lisbon government for not extending a bridging loan.

BES did not fail it was forced to disappear” said the former chief executive.

In August, BES was split into a so-called “good bank”, called Novo Bank, which is up for sale, and a “bad bank”, BES, which is being wound up. andmto

BES’s demise is considered one of Europe’s largest financial failures.