Lisbon-based private bank Banco Privado Portugues is considering asset management or investment banking acquisitions in the Spanish market, chairman Joao Manuel Oliveira told Spain’s Expansion newspaper. Mr Oliveira has indicated that as part of its strategic plan for the period to 2011, BPP aims to have assets worth €1.5 billion ($2 billion) under management in Spain by the end of that period. BPP currently has branches in Madrid, Seville and Valencia, as well as collaborating with Galicia Private Bankers through its Porto office. BPP is not considering other banks. Mr Oliveira said prices are not favourable and there are not many banks available for sale.