Jornal de Negócios says Portuguese bank Millennium BCP may benefit from the removal of limits on foreign ownership of financial institutions in China.
The Portuguese newspaper quotes the bank as saying it is making plans to develop new markets and take business opportunities in Asia in general and in China in particular.
The biggest single stake in Millennium BCP belongs to Chinese conglomerate Fosun International Ltd, and the bank has a branch in Macau, Jornal de Negócios says.
Previously, Bloomberg reported that the China Banking and Insurance Regulatory Commission had announced on Thursday that it was removing the caps on foreign ownership of Chinese banks and managers of bad debt.
