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.
Bank Espirito Santo (International) Limited has Category B banking license number 83009 issued by the Cayman Islands Monetary Authority. This type of license allows Bank Espirito Santo (International) Limited to conduct banking and trustee 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 Bank Espirito Santo (International) Limited failure its depositors will not get any compensation.