BNU (Macau) opens branch on Hengqin Island in 2016

22 April 2015

Banco Nacional Ultramarino (Macau) plans to open a branch on Hengqin Island in 2016, the chief executive of the bank, pedro Cardoso said Tuesday.

“The process is already underway with the Macau authorities and we will start it soon with the Chinese authorities, so that we can open the branch on that date,” Cardoso told Portuguese news agency Lusa.

The main aim of opening this branch is, according to the CEO of BNU (Macau), “our wish to more closely serve the bank’s customers and have a more active role in the promotion of business between China and the Portuguese-speaking countries.”

“There are Portuguese in China and Chinese who want a bridge to the outside and the Portuguese-speaking countries where the CGD group has a unique market position, and in this sense we want to strengthen the support to our customers, enhance business with Chinese entrepreneurs and project the group and our ability to provide services as a whole,” he said.

Portuguese state financial group Caixa Geral de Depósitos (CGD) in June in Macau will host an internal meeting, which will bring together senior officials from Portuguese-speaking countries, Macau and China to create a network of contacts that “strengthen the role intermediary that the bank can play.”

In 2014, BNU (Macau) posted net profit of 443.28 million patacas (US$55.41 million), a year-on-year increase of 10 percent, according to Cardoso.

The bank, which currently has over 204,000 customers, ended last year with total loans of 22.029 billion patacas and deposits of 41.588 billion patacas. (macauhub/CN/MO)