The Macau branch of Portuguese private bank Banco Comercial Português (BCP) posted profit of 67 million patacas (US$8.375 million) in 2011, said João José Pãosinho, the bank’s managing director told Macau radio station Rádio Macau.
For 2012, the managing director of BCP Macau projects profit of between 60 and 65 million patacas, after the bank in 2011 ended the year with deposits of 3 billion patacas and credits of 1.8 billion patacas.
Pãosinho told Rádio Macau that his bank was waiting for a license to be granted to operate in mainland china, which was expected to happen within 12 to 24 months.
Noting Macau’s role as a platform to link China and the Portuguese-speaking countries, the managing director of BCP Macau called for the Macau government to open up lines of credit to finance business with the Portuguese-speaking world. (macauhub)