RIO DE JANEIRO, July 11 (Reuters) - The crisis afflicting Banco Espírito Santo SA, Portugal’s largest listed lender, is unlikely to impact global markets because of its small size, André Esteves, chief executive of Brazil’s grupo BTG Pactual SA said on Friday.
Espírito Santo “is a small bank on a global scale. I believe that there is no global contamination stemming from this issue - there is not enough material from a systemic viewpoint,” said Esteves, one of Brazil’s most prominent dealmakers, at an event in Rio de Janeiro.
He added that the Brazilian economy is currently going through a moment of flagging investor confidence, although the country’s economic fundamentals remain solid. (Reporting by Rodrigo Viga Gaier; Writing by Guillermo Parra-Bernal, Editing by Franklin Paul)