Agreement between Chinese banks and Portugal’s BPI to help Chinese companies in Angola

9 November 2010

Lisbon, Portugal, 9 Nov – The vice-president of the Bank of China, Chen Siqing, said Sunday in Lisbon that the agreement signed with Portugal’s BPI bank will boost business of Chinese companies in Angola.

“BPI Bank has a strong presence in Angola, via Banco de Fomento de Angola, and with this cooperation we want to develop businesses in Angola”, said Chen Siqing at a joint press conference.

The chairman of BPI, Fernando Ulrich, that there had been an agreement in place between BPI and the Macau branch of the bank of China since 2006, but noted that the agreement that had just been signed would increase that cooperation.

“In order to help our client companies that want to develop businesses in the Chinese market it is important for BPI to have an agreement with the Bank of China parent company, as well as the relationship with the Macau branch,” Ulrich said.

Ulrich had previously said that the agreement signed by his bank and the Bank of China could drive growth of Portuguese imports by the Asian giant.

The agreement between the two banks opens up, “channels of cooperation between clients and financial products,” the vice president of the Bank of China had previously said.

ON the sidelines of the signing of the protocol, the officials from the two banks also said that the Bank of China may take a stake in BPI. (macauhub)