‘Lis­bon’ un­tainted

Finweek English Edition - - Letters - DAVE BROWN, CEO MER­CAN­TILE BANK HOLD­INGS

THANK YOU for pub­lish­ing the re­port on Mer­can­tile (19 April). By way of cor­rec­tion to some small points, we com­ment as fol­lows:The old (legacy) bad debts were not from Bank of Lis­bon but rather from the merged en­tity of Mer­can­tile Lis­bon Bank.

We never re­garded the word “Lis­bon” as tainted. The re­brand­ing was rather, in­ter alia, fo­cused on re­plac­ing the word “Lis­bon” by “mem­ber of CGD Group” – partly to sig­nal our in­ter­na­tional bank­ing parent­age.

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