New BES boss to reveal results on Wednesday

Vítor Bento, the beleaguered bank’s new boss, is due to present BES accounts for the first half of this year on Wednesday (July 30). Analysts are said to be hedging their bets on how bad the situation really is. According to certain newspapers, the fear is that losses “could be higher” than the billion euros originally mooted.
The bank has chosen the German Deutsche Bank to ‘clean up its accounts and define the strategy for the future’, writes CM – and one of the options on the table could be an increase in capital.
Meantime, Prime Minister Passos Coelho is refusing to comment on Ricardo Salgado’s arrest, or indeed on the charges being levelled against him.
Passos Coelho’s position has always been that the crisis is surmountable and that customer accounts are safe.