Economics
Portugal Wants to Move on From Bank Collapse
- Banks recover three years after Espirito Santo’s bailout
- Espirito Santo name, once a top brand, is treated as a relic
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For Portugal, there’s a before and an after Banco Espirito Santo.
The fall from grace of one of the country’s oldest banking groups and the family that founded it has practically erased signs of its one-time dominance in the Iberian nation. Gone is the bank’s name glowing atop a building overlooking the Marques de Pombal square in central Lisbon as well as its logo on t-shirts of players from Portugal’s three-biggest soccer teams. Three years after the bank’s collapse, many in Portugal just want to move on.