BCP’s shareholders approve two new administrators assigned by Fosun

  • ECO News
  • 11 May 2017

BCP's shareholders approve two new administrators assigned by Fosun in a GA with 54.1% representation. Nuno Amado believes Fosun's entrance in the bank's equity reinforces shareholders' stability.

BCP‘s shareholders approved, in a general assembly (GA), the nomination of two new administrators assigned by Fosun. In addition to the new members of the administration, green light was given to the annual reports, balance sheet and financial statements for 2016, as well as to the remuneration policy. The GA had a 54.14% representation of the financial institution’s shareholders.

“The appointment of two new directors was approved: Lingiang Xu as nonexecutive member of the Board of Directors of BCP and João Nuno de Oliveira Palma as executive member of the Board of Directors of BCP“, is stated in the press release sent from the bank headed by Nuno Amado to the CMVM (Portuguese Securities Market Commission).

These nominations take place after the Chinese reinforced their capital on BCP. Fosun now holds 23.9% of the institution headed by Nuno Amado, and can go up to a 30% equity.

“Fosun gives BCP a different confidence and stability”

BCP‘s CEO believes Fosun’s entrance in the bank’s capital reinforces the stability of its shareholders, anticipating the Chinese group will create synergies which will open new markets and business opportunities.

“BCP will succeed because the administrators [LinJiang Xu and João Nuno Palma] not only have quality per se, but also represent the new shareholder — Fosun. And Fosun gives us, in fact, a different confidence and stability“, stated Nuno Amado to the Portuguese news agency Lusa in the end of BCP‘s yearly General Assembly.

When asked about the possible synergies with Fosun, Nuno Amado points to a broad array of opportunities, saying there are many business possibilities in the markets “where we stand and where Fosun stands, in different sectors and areas”.