Portugal’s Banco Nacional Ultramarino opens office in Shanghai

29 May 2006

Macau, China, 29 May – Portuguese bank Banco Nacional Ultramarino, which is part of the state group Caixa Geral de Depósitos, opened an office in Shanghai to “gather information” and “support” Portuguese companies, the bank’s chief executive to Portugal’s Lusa news agency Monday.

Herculano de Sousa said that the office in Shanghai, a city considered to be China’s financial and economic capital, would also be a benchmark for “supporting companies and all Portuguese exporters that are customers of the Caixa Geral de Depósitos group and wish to carry out business in the region.”

Banco Nacional Ultramarino is headquartered in Macau and has just one office in Shanghai as the branch in Zhuhai, the Special Economic area adjacent to Macau is under the Caixa Geral de Depósitos brand.

In 2005 Banco Nacional Ultramarino posted profit of almost US$26.17 million, an increase of 152.8 percent on the previous year. (macauhub)