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.