Scandal-Hit Portuguese Bank Lost $10B in Year It Collapsed

December 31, 2015 11:13 AM

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A one-time leading Portuguese bank that collapsed and caused an unprecedented financial scandal has reported losses of 9.2 billion euros ($10 billion) in 2014, the year it went bankrupt.

Banco Espirito Santo SA said in a statement to the Lisbon stock exchange late Wednesday that over 2014 its total assets fell from 66.2 billion euros to 197 million euros.

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