Bank of China to operate in Portugal

The Bank of China (BOC) has requested permission of the Bank of Portugal (BOP) to operate within the country and has already located a venue in Lisbon where they hope to open their first Portuguese branch. Interest from the BOC in Portugal was prompted when the Minister of Foreign Affairs, Paulo Portas, visited China in July this year. Following the trip, the Chinese bank announced that it had already discussed with the Association for Investment and Foreign Trade of Portugal (AICEP) about expanding into the country.

The bank is currently awaiting authorisation from BOP.