Banco Nacional Ultramarino ends 2015 with profits of US$65.3 million

27 April 2016

In 2015 the Banco Nacional Ultramarino (BNU) bank posted a net profit of 510.3 million patacas (US$65.3 million), or an increase of 15.1 percent compared to 443.3 million patacas recorded in 2014, the bank said.

Loans to customers increased by 21.6 percent, with the main drivers of growth being loans to retail customers and small and medium-sized enterprises and deposits registered an increase of 21.6 percent, mainly as a result of an increase in deposits of retail customers, companies and institutions.

In a statement BNU said that the bank’s loan-to-deposit ratio remained constant compared to the previous year at 53.1 percent.

In turn, net interest income (the difference between the average value of bank lending rates and the average value of passive interest rates) increased 22.6 percent.

The quality of the loan portfolio remained very high, with the ratio for loans overdue for more than 90 days standing at 0.2 percent and the coverage of loans overdue for more than 90 days, by total provisions in 2015 at 746.2 percent compared to 306.0 percent in 2014.

According to the statement 2015 was a year of innovation and progress, and the BNU introduced in Macau the first and only Asia Miles “co-branded” credit card, the first UnionPay credit card in 3 different currencies, online banking for mobile phones, online foreign currency shopping service and the priority cash system for Private Banking and Advantage customers. (macauhub/MO)