July 18, 2014 / 12:03 PM / in 4 years

BES Angola has problems with loan portfolio, needs capital increase - Angola cenbank

LISBON, July 18 (Reuters) - Banco Espirito Santo ’s Angolan unit BES Angola had a problem with the quality of its credit portfolio, including bad loans, but this did not pose a threat to the overall stability of Angola’s financial system, the central bank governor said.

In a statement to parliament made available on Friday, Governor Jose de Lima Massano said the situation would require a capital increase for BES Angola. (Reporting by Shrikesh Laxmidas; Editing by Pascal Fletcher)

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