Bison Capital Holding Co. Ltd of China has renamed its newly acquired Banco de Investimento SA (Banif), now calling the Portuguese bank Bison Bank, Negócios reports.

The Portuguese financial newspaper quotes a written statement issued by Bison Capital as saying the renaming reflects the new function of the bank “as a financial bridge between Asia and Europe”, which makes use of its “privileged connection to the Asian market”.

The statement quotes a non-executive director of Bison Bank, Yang Lijun, as saying: “We will support Asian customers interested in investing and expanding their activities worldwide, as well as international investors interested in China.”

The newspaper says Bison Capital emphasises that Portugal is the second-biggest European recipient of Chinese investment, considering the country’s economic dimension.

Bison Capital bought the majority stake in troubled Banif in July, pumping €41 million (about US$46.2 million) into the bank to keep it afloat, Negócios says.