One of Portugal's biggest banks wants to enter the U.S. banking market by opening an office in New Jersey.

Banco Português de Investimento, also known as Banco BPI, is seeking regulatory approval to open a branch in Newark, according to state documents. BPI selected Newark because the city is home to one of the largest Portuguese communities in the United States. BPI already has a remittance office in Newark.

Subscribe Now

Access to authoritative analysis and perspective and our data-driven report series.

14-Day Free Trial

No credit card required. Complete access to articles, breaking news and industry data.