Portugal Evades Second Tap of Aid for Bank Needs

Portugal Evades Second Tap of Aid for Bank Needs

Mario Proenca/Bloomberg

Banco Espirito Santo SA, Portugal’s second-biggest non-state bank by assets, would be able to offset a 30 to 40 percent a year increase in bad loans with earnings alone, Lee Tyrell-Hendry, one of the authors of the RBS report, said in a telephone interview.