Oct. 27 (Bloomberg) -- Banco Espirito Santo SA, Portugal’s biggest publicly traded lender, said it would need 687 million euros to meet new capital requirements, according to the European Banking Authority’s methodology.
The bank has already presented capitalization plans to the Bank of Portugal, Lisbon-based Espirito Santo said today in a regulatory filing. A Nov. 11 shareholder meeting will vote on a proposal to raise as much as 791 million euros in a capital increase.
Espirito Santo said it will continue deleveraging its balance sheet and if necessary will consider other options in the capital markets.
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