Edition 1484
21 July 2018
Edition: 1484

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BES victims protest in Porto

by TPN/Lusa, in News · 28-12-2017 16:29:00 · 0 Comments

A group of victims of the Banco Espírito Santo (BES) collapse were holding a protest in central Porto on Thursday to demand they get all their money back through a provision created to refund clients.

BES victims protest in Porto

 

“We don’t want 20%, or 50%, or 75%, we want what they fraudulently stole from us”, the group said in a communiqué, stressing that the protesters would continue until they got back the money that had a bank with apparently the highest guarantee had “shamelessly” extorted from them.

 

Last Thursday, the Portuguese government confirmed that the first part of the compensation payments for the BES victims of about €140 million, would be covered by the state coffers and that the victims should receive the pay-outs in April.

 

BES, as it used to be known, finished on 3 August 2014, four days after presenting an all-time loss of €3.6 billion.

 

The Bank of Portugal, used a resolution measure to take over the bank and separated it into a good bank, called Novo Banco, while the toxic assets from BES were kept in a bad bank, with no banking licence.

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Edition 1484
21 July 2018
Edition: 1484

Read this week's issue online exactly as it appears in print.

Twitter

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