The new chief of stricken Portuguese bank Banco Espirito Santo (BES) on Tuesday vowed to win back the market's confidence after shares in the lender tumbled to a record low. "My priority is to recapture the confidence of the markets, put an end to speculation and open a new chapter" for the bank, Vitor Bento said in a message sent to 10,000 BES employees.
The 60-year-old former central bank official, who took the helm of BES on Monday, said the bank remains well-capitalised despite fears that one of its holding companies could face bankruptcy. "We still have obstacles and challenges in front of us, but I am sure that we will overcome them," Bento said, adding that Portugal's largest listed bank remains a "pillar" the economy. Shares in BES were down 7.64 percent at 0.41 euros on the Lisbon stock exchange in mid-afternoon trading after falling up to 20 percent to a record low of 0.355 euros in the morning.
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