News In Brief

Ticker

Portugal announces €4.9bn rescue for troubled lender

04.08.14 @ 10:14

  1. By EUOBSERVER

Portugal's Central Bank has taken control of troubled lender Banco Espirito Santo in a €4.9bn plan that will split the institution into “good” and “bad” banks. The Portuguese government has about €6.4 billion remaining from its EU-led bailout in 2011 to fund the capital injection, reports Bloomberg.