Espirito Santo Collapse Triggers Flurry of Potential Bank Deals

Just months after the Espirito Santo family empire unraveled, pushing what was once Portugal’s largest lender into a bailout, a flurry of merger discussions is shaking up the banking industry.

Firms from Spain to China are looking at Novo Banco SA, the entity that emerged from the wreckage of Banco Espirito Santo SA, while Banco BPI SA drew a takeover offer from Spain’s CaixaBank SA, its largest shareholder. Banco Comercial Portugues SA and BPI have also been cited as possible partners.