BNU headquarters in Macau

BNU’s profits rise 23pct y-on-y in 2019

Banco Nacional Ultramarino (BNU) in Macau recorded MOP721.9 million (US$91.2 million) in profits in 2019, according to its balance sheet published in the Official Gazette.

Compared to the same period in 2018, BNU’s profits, part of the Portuguese Caixa Geral de Depósitos group (CGD) group, rose by around 23 per cent year-on-year.

According to the document of December 31, the BNU reported income of MOP1,67 billion and MOP958 million in expenses.

At the end of January, CGD indicated that Macau’s BNU contributed 69 million euros to the net profit of 776 million euros in 2019.

In the first half of last year, BNU made a profit of MOP366.8 million.

In 2018, BNU had recorded a 17 per cent decline in profits, to MOP585 million patacas.

BNU is, together with the Bank of China, a currency-issuing bank in Macau, and currently has 20 branches, including one in Hengqin, Zhuhai.