LISBON, July 26 Banco Espirito Santo,
Portugal's second-largest listed bank by assets, swung to a
sharper-than-expected first-half net loss of 237 million euros
from a year-ago profit of 25.5 million euros as provisions for
bad loans rose sharply.
BES also said in a statement on Friday that net interest
income - the difference between interest charged on loans and
interest paid on deposits -- fell 23 percent to 470 million
euros from a year earlier amid a recession in the bailed-out
Analysts surveyed by Reuters had predicted, on average, a
net loss of 128 million euros and net interest income of 466
BES shares had closed 1.1 percent higher on Friday before
the results were announced, outperforming the broader market in
Lisbon, up 0.5 percent.
(Reporting by Andrei Khalip)