BANCO ESPIRITO SANTO RELEASE
BANCO ESPÍRITO SANTO, S.A. RELEASE CONCERNING BES' BALANCE SHEET AS AT 4 AUGUST 2014With the application of the resolution tool to Banco Espírito Santo, S.A. (BES) on 3 August
2014, the generality of the assets and liabilities, off-balance sheet items and assets under management of BES was transferred to Novo Banco, S.A. (Novo Banco), incorporated as set out in the then article 145.º-A et seq. of the Credit Institutions General Framework.
According to Annex 2 of the resolution of 3 August 2014, the transfer to Novo Banco has been made at book value, as adjusted in accordance with the results of the evaluation foreseen in the first part of article 145.º-H, no. 4, of the Credit Institutions General Framework as in force at the date of the application of the resolution tool, and therefore BES made the relevant accounting entries, in compliance with said resolution of 3 August
2014.
The responsibility of BES' Board of Directors in office as from 4 August 2014 was to make the accounting reflection of the transfer of assets, liabilities, off-balance sheet items and assets under management, as selected by Bank of Portugal within the framework of the application of the resolution tool and of the adjustments resulting from the independent evaluation, which were therefore a starting point for this Board of Directors.
In addition, BES' Board of Directors made adjustments resulting from its assessment on the recoverability of the assets and completeness of the liabilities included in BES' balance sheet as at 4 August 2014 based on all the known information available until the date of the approval of the balance sheet.
Accordingly, BES' Individual Balance Sheet and the Notes as at 4 August 2014 which are disclosed on the date hereof, along with the Report and Opinion of the Audit Commission
Banco Espírito Santo S.A. - Public Traded Company -
Head Office: Rua Barata Salgueiro, no. 28, 6th floor, 1250-044 Lisbon Portugal
Registered at Lisbon's Commercial Registry Office and Tax Identification number 500 852 367
Share Capital: 6.084.695.651,06 euros
RELEASE
and the External Auditor's Report, are the accounting reflection of the selection of the assets, liabilities, off-balance sheet items and assets under management transferred to Novo Banco, of their valuation in accordance with the independent evaluation referred
above and of the adjustments made by BES' Board of Directors.
BALANCE SHEET AS AT 4 AUGUST 2014 AND 31 DECEMBER 2013
(TEUR)
Cash and deposits at central banks - 916 143
Deposits with banks 10 000 147 211
Financial assets held for trading - 1 102 113
Financial assets at FV - 2 937 434
Financial assets AFS - 5 949 475
Loans and advances to banks - 9 583 337
Loans and advances to customers 143 617 35 872 194
Held-to-maturity investments - 1 152 456
Hedging derivatives - 325 021
Non current assets held for sale - 1 356 013
Other tangible assets - 327 135
Intangible assets - 109 777
Investments in associates 11 350 2 617 839
Current income tax assets - 14 727
Deferred income tax assets - 1 003 735
Other assets 28 465 2 752 951
Amounts owed to central banks - 9 305 318
Financial liabilities held for trading 13 222 999 839
Deposits from banks 26 5 470 806
Due to customers 596 005 33 446 504
Debt securities - 8 245 875
Financial liabilities associated with transferred assets - 635 609
Hedging derivatives - 86 419
Provisions 1 049 420 505 472
Current income tax liabilities - 6 721
Deferred income tax liabilities - 55 417
Other subordinated loans 907 871 1 034 748
Other liabilities 48 206 673 149
Share capital 6 084 696 5 040 124
Capital surplus 1 039 147 1 059 700
Other capital instruments 191 571 191 734
Treasury Stock ( 801) ( 801) Other reserves and retained earnings ( 788 798) ( 126 505) Net profit for the period (8 947 133) ( 462 568)
Francisco Boavida Salavessa
E-mail: investor.relations@bes.pt
Lisbon, 7 August 2015
BANCO ESPÍRITO SANTO, S.A.Banco Espírito Santo S.A. - Public Traded Company -
Head Office: Rua Barata Salgueiro, no. 28, 6th floor, 1250-044 Lisbon Portugal
Registered at Lisbon's Commercial Registry Office and Tax Identification number 500 852 367
Share Capital: 6.084.695.651,06 euros
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