BNU Macau is expected to open branch in Hengqin Island in 2016

25 June 2015

The expansion of Banco Nacional Ultramarino (BNU) to the island of Hengqin is a “natural step for the bank,” the BNU’s chief executive officer, Pedro Cardoso said Wednesday in Macau.

“We are not going to China looking for new customers, but rather to accompany our customers that are increasingly investing in China, ranging from private individuals who buy an apartment in Guangdong Province, in Hengqin or Zhuhai, to the entrepreneurs who build factories,” said Cardoso, at the commemorative session of the 113th anniversary of the BNU.

The island of Hengqin is part of the municipality of Zhuhai and is located opposite the island of Taipa and connected to Macau by a bridge and a tunnel connecting to the University of Macau.

The chief executive of the bank that is part of Portuguese state financial group Caixa Geral de Depósitos (CGD) said he hoped the proposed expansion to Hengqin would be presented to China’s central bank next July so that the branch can open in autumn 2016.

Recalling the very particular relationship BNU has with Portuguese-speaking countries, “a relationship in which the bank has an absolutely unique situation,” Cardoso announced that in the very short term there would be news about this.

To celebrate the anniversary the “A New Century With You” exhibition was inaugurated at the official residence of the consul of Portugal in Macau, which tells the story of BNU from 1902 to 2015.

The exhibition is divided into four areas – BNU as an issuing bank, BNU as a commercial bank, BNU as an “important part of the cooperation platform between China and Portuguese-speaking countries” and finally BNU as part of social responsibility in Macau. (macauhub/MO/PT)