Macau | Millennium bcp profits up 1 pct in 2018 to MOP109.2 mln

Macau (MNA) – Banco Comercial Português, S.A. (Millennium bcp Macau branch) recorded MOP109.2 million (US$13.5 million) in net profits in 2018, a 1 per cent year-on-year increase.

In total the bank recorded MOP304.8 million in revenue and MOP195.6 million in expenses last year.

By the end of 2017, the bank management indicated that expected that Macau’s economy will continue to perform well in 2018 due to the activity of the tourism, gambling and entertainment sector.

However it also warned that international uncertainty regarding international trade and consequent potential impacts on Macau, and the expected reduction in investment in hotels and resorts, coupled with ‘unknowns on the performance of some of the economies of the Portuguese-speaking countries, have led the bank to continue ‘adopting a strongly defensive business strategy for 2018, mainly focused on minimizing risks’.