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Portugal: Novo Banco report - Socialists reject accusations of bias macaubusiness.com - get the latest breaking news, showbiz & celebrity photos, sport news & rumours, viral videos and top stories from macaubusiness.com Daily Mail and Mail on Sunday newspapers.
Benfica to hold elections later this year theportugalnews.com - get the latest breaking news, showbiz & celebrity photos, sport news & rumours, viral videos and top stories from theportugalnews.com Daily Mail and Mail on Sunday newspapers.
Basel III preventing banks from fuelling EU's green economy, Deutsche Bank and BNP warn bobsguide.com - get the latest breaking news, showbiz & celebrity photos, sport news & rumours, viral videos and top stories from bobsguide.com Daily Mail and Mail on Sunday newspapers.
Portugal's Resolution Fund said it had agreed with a banking syndicate to borrow 475 million euros ($580.36 million) to shore up the capital of lender Novo Banco, which emerged from the ruins of the collapsed Banco Espirito Santo. ....
2 Min Read LISBON, June 5 (Reuters) - Portugal’s Resolution Fund said it had injected another 317 million euros ($386 million) into Novo Banco, which emerged from the collapse of Banco Espirito Santo (BES) in 2014. The new injection on Friday is contentious in Portugal as Novo Banco is 75% owned by U.S. private equity fund Lone Star and because the state-backed fund, which has the remaining 25%, has already provided 3 billion euros in capital since 2017. Although all Portuguese opposition parties are against any further injection of public money, the government last week authorized the resolution fund to do so. The resolution fund said in a statement that the capital injection was carried out on Friday and was “fully financed” by a syndicate of seven Portuguese banks, which on Monday lent 475 million euros to the fund. ....