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By Andrei Khalip and Laura Noonan LISBON/LONDON (Reuters) - Banco Espirito Santo steadied market jitters about its vulnerability to the troubled business empire of its founding family on Friday but investors are still in the dark about the size of any potential losses. Portugal's largest listed bank is at the center of a firestorm after concerns about its links to a web of companies controlled by the powerful Espirito Santo clan sparked a rout in global markets this week, prompting some European companies to pull fundraisings and reviving memories of the region's debt crisis. Under pressure to clarify its position and stop the situation spiraling out of control, BES released a statement in the early hours of Friday saying that it had exposures worth 1.15 billion euros and believed it had enough reserves to absorb any losses. BES said it had 2.1 billion euros in capital above minimum regulatory requirements as of March 31, taking into account a further 1 billion via a rights issue.
Portuguese authorities on Friday sought to allay market fears over the financial health of the country's biggest bank Banco Espirito Santo, which has seen its shares plummet over its parent company's debt woes. "There is no reason to doubt the security of the funds entrusted to the BES, and its savers have no need to be worried," Portugal's central bank said in a statement. Prime Minister Pedro Passos Coelho added that "there is no reason for the state to intervene in a bank which has solid capital and which has a comfortable margin to deal with any eventuality, even the most adverse". Lisbon stock market regulators suspended trading in BES shares on Thursday after they plummeted over 17 percent to 0.50 euros.