Portland is a leading brand, synonymous with quality and will remain so in the BHD Group,' said BHD sales and marketing director Steve Bennett.
BHD says it has eight per cent of the European market, which has forecasted growth of 15 per cent a year.
Significant loan growth and the clean-up of the legacy portfolio from previous mergers and the economic crisis in 2003-2004, along with a revamped credit risk control policy, have allowed BHD to dramatically improve its asset quality ratios.
Improved efficiency, although still weak by international standards, and relatively low loan loss provisions charges have allowed BHD to enhance its profitability.
At March 2009, BHD had an equity-to-assets ratio of 8.
At year-end 2007, BHD had an equity-to-assets ratio of 9% and a total capital ratio of 11.