Portugal's BCP preparing Macau return

Portuguese bank Banco Comercial Português (BCP) seemingly is preparing to come back to Macau.
BCP’s chairman Carlos Santos Ferreira told newspaper Diário de Notícias in Portugal that the bank has already required the change of its offshore license in Macau to an onshore license.
The Bank of Portugal already gave its greelight to the operation.
The Monetary Authority of Macau is still scrutinizing the request, according to Carlos Santos Ferreira.
In 2005, BCP reached an agreement with Hong Kong based Dah Sing Bank Limited involving the sale of 100 percent share capital of BCP's banking and insurance activities in Banco Comercial de Macau S.A. (BCM), thus assuring the maintenance of BCP's branch in the territory.



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