The Swiss Financial Market Supervisory Authority (FINMA) declared bankruptcy over Banque Privée Espirito Santo SA en liquidation on September 19, 2014 at 8am. In this context, the FINMA appointed Carrard Consulting SA as Liquidator to successfully complete and supervise the operations. The Liquidator will endeavor to fulfill this mission in the best interest of creditors and employees.
As from today, the bank is closed and ceases all activities, subject to those related to the proceedings. Creditors that are willing to be legally registered in the Schedule of Claims must fill in the applicable form(s), sign it (them) and send it (them) by mail to Banque Privée Espirito Santo SA en liquidation, P.O. Box 107, 1009 Pully, Switzerland. Furthermore, to speed up proceedings, please forward the requested form(s) by email to firstname.lastname@example.org. Messages shall be handled by order of arrival and priority.
Banque Privée Espirito Santo SA was the 130th largest bank in Switzerland in terms of total assets. In 2013 its total assets were 867,07 mln CHF, providing the bank with the market share of 0.03%. Banque Privée Espirito Santo SA was the 42nd largest foreign-controlled bank in Switzerland (out of 93 banks) having market share of 0.32% amongst the banks of this category.
Banque Privée Espirito Santo SA participates in deposit guarantee scheme of Switzerland. This scheme covers accounts up to 100 000 CHF per bank per depositor.
Banque Privée Espirito Santo SA is a member of Espírito Santo (Portugal). Banque Privée Espirito Santo SA was headquartered in Pully.
|Total Assets (2013)|
|867.07 mln CHF (+39.98%)|
|Assets Under Management (2013)|
|5 582.20 mln CHF|
In 2013 total assets of Banque Privée Espirito Santo SA were 867.07 mln CHF. Growth compared to the previous period (2012) was 39.98%. The evolution of the total assets of Banque Privée Espirito Santo SA is shown at Chart 1 below.
Chart 1. Total Assets of Banque Privée Espirito Santo SA.
In 2013 assets under management of Banque Privée Espirito Santo SA were 5 582.20 mln CHF.
|Gross Profit (2013)|
|9.00 mln CHF|
|Annual Profit (2013)|
|2.00 mln CHF|
In 2013 gross profit of Banque Privée Espirito Santo SA was 9.00 mln CHF.
The structure of gross profit of Banque Privée Espirito Santo SA is shown in Table 1.
|Net Interest Income||5.7|
|Net Commission Income||40.9|
|Net Income from Trading Operations||3.6|
|Net Income from Banking Operations||56.1|
|Table 1. Structure of gross profit of Banque Privée Espirito Santo SA (mln CHF).|
In 2013 annual profit of Banque Privée Espirito Santo SA was 2.00 mln CHF.
|Yes (up to 100 000 CHF per depositor)|
Deposit Guarantee Schemes compensate certain deposits held by depositors of a bank that becomes unable to meet its obligations.
All credit institutions operating in Switzerland are obliged to participate in Swiss deposit guarantee scheme.
In the case of Banque Privée Espirito Santo SA failure, eligible depositors having covered accounts in this bank will be paid out the following compensation:
|Eligible Depositors||private individuals, commercial enterprises and public-sector offices|
|Covered Accounts||credit balances (e.g. personal accounts, savings accounts, investment accounts, salary accounts, numbered accounts, deposit accounts and current accounts)|
|Maximum Protected Amount||100 000 CHF|
|Paid In Currency||CHF|
Any bank can be identified for different purposes and hence can have several different identifiers.
BIC (Business Identifier Code, also known as SWIFT code or SWIFT BIC) is a the mostly used international identifier of financial institutions. SWIFT is the registration authority for BICs. BICs are used in financial transactions, client and counterparty data bases, compliance documents and many others.
A BIC consists of eight or eleven characters, comprising a financial institution code (four characters), a country code (two characters), a location code (two characters) and, optionally, a branch code (three characters).
BIC of Banque Privée Espirito Santo SA and its components are shown in the table below.
|Bank BIC Code||CFES|
|Country Code||CH (Switzerland)|