Controversies
Controversies tied to this brand in public sources. A listing is not a finding of fault.
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2014
Regulatory disobedience and ruinous management allegations
Reference material states that the administration led by Ricardo Salgado disobeyed Banco de Portugal 21 times between December 2013 and July 2014. The conduct was later characterised as involving wilful acts of ruinous management during the period preceding the bank’s resolution.
2014
Financial collapse and regulatory resolution
Large losses, exposure to troubled Espírito Santo group assets and the collapse of market confidence led Banco de Portugal to separate BES’s healthy operations from its toxic assets. The episode resulted in Novo Banco’s creation and the liquidation of the residual BES entity.