Banco Espirito Santo (BES) was a Portuguese bank that went bankrupt on August 4, 2014. Novo Banco was established as a successor of Banco Espírito Santo by the Bank of Portugal as a bridge bank to rescue assets and liabilities of BES.
Banco Espirito Santo, S.A. has Category B banking license number 100011 issued by the Cayman Islands Monetary Authority. This type of license allows Banco Espirito Santo, S.A. to conduct banking operations with non-residents and domestic banking business with other Cayman Islands licenced entities.
There is no deposit guarantee scheme in the Cayman Islands: in the case of Banco Espirito Santo, S.A. failure its depositors will not get any compensation.
Deposit Guarantee Schemes compensate certain deposits held by depositors of a bank that becomes unable to meet its obligations.
There is no deposit guarantee scheme in the Cayman Islands.
In the case of Banco Espirito Santo, S.A. failure its depositors will not be paid out any compensation.
Banco Espirito Santo, S.A. operated under the brand name Espirito Santo. This banking brand has presence in the following European countries and selected dependent territories of the European countries:
The following banks operating under Espirito Santo brand name has been recently closed down: