What is Oitante, S.A.
Oitante, S.A. is a private entity whose establishment was decided by the Financial Supervisory Authority, Banco of Portugal, in December 2015, along with its bylaws, under the terms and for the purposes of n.º 5 article 145º S of the Credit Institutions and Financial Companies Legal Framework. Oitante’s share capital is of fifty thousand euros, one euro per share, owned by the Resolution Fund, a public entity created to manage the banking sector restructuring processes.
Oitante, S.A. is engaged in managing the rights and obligations of Banif’s assets, transferred at any time by decision of Banco de Portugal, according to the purposes referred in article 145º C of the Credit Institutions and Financial Companies Legal Framework. Moreover, Banco de Portugal may at any time, determine the return to Banif, S.A., the rights and obligations of specific assets that have been transferred to the entity, under the terms stated in law.
Oitante’s mission is to divest its assets whilst maximizing their value according to specific standards and principles of its activity and the market conditions. Management concern is to ensure the maintenance of low levels of risk while maximizing the entity’s value considering its subsequent sale or liquidation.
Oitante’s organizational structure consist in a group of professionals duly committed to pursue the most appropriate solutions in managing entity’s assets and liabilities with efficiency, dynamism, accuracy and ethics.
Oitante’s values comprise integrity, transparency and civic commitment. Integrity means that our actions and behavior will always be in line with the regulations, principles and the ethical standards of Oitante’s business culture. Transparency implies that Oitante, S.A. commits to being open in regard to its policies disclosures and procedures. Civic commitment means that Oitante, S.A. is managed under ethical standards and socially responsible criteria.