The finances of the bad bank are of crucial importance to BES's shareholders and subordinated bondholders as whatever chance they have of recovering any cash hinges on whether the bad bank can recover any of its lending to the crumbling business empire of the bank's founding Espirito Santo family.

The difference provided by Novo Banco is between its assets and the assets of BES at the end of June on a standalone basis rather than the consolidated BES Group. The group's total assets, including various subsidiaries, stood at 80 billion euros in June according to the results reported last week.

Novo Banco did not reveal the amount of toxic assets left behind in the bad bank by BES's subsidiaries like Banco Espirito Santo Angola (BESA), which has a problematic loan book. Angola on Monday appointed administrators to manage the indebted unit.

Provisions at Novo Banco stand at 1.7 billion euros.

Total liabilities at Novo Banco stood at 58.2 billion euros, including almost 32 billion in clients' funds, mainly deposits. Senior debt liabilities stood at 8.06 billion euros, the same as in the old BES.

Loans to clients at Novo Banco stood at around 32.9 billion euros, down from 34.2 billion at standalone BES.

The rescue plan for Banco Espirito Santo, unveiled late on Sunday, involved an injection of 4.9 billion euros mostly via a state loan and splitting the lender into Novo Banco and the "bad bank", housing BES's exposures to the family businesses and other problem assets.

Portugal's Bank Resolution Fund that received a 4.4 billion euro state loan, is now the formal owner of Novo Banco. The country's authorities hope the healthy, recapitalised new bank will be sold to investors in the near future and the state will get the money back with interest.

(Reporting By Andrei Khalip; Editing by Erica Billingham and Greg Mahlich)