BNU is the gateway of China to Portuguese speaking countries, says Macedo
Paulo Macedo (left) and Pedro Cardoso
As Banco Nacional Ultramarino (BNU) celebrated its 115th anniversary yesterday, Paulo Macedo, the CEO of parent company Caixa Geral de Depósitos (CGD), reiterated that the local bank has been ideally placed to promote bilateral trade between China and Portuguese-speaking countries.
Macedo, who was Portuguese Health Minister from 2011 to 2015 before being appointed to the CGD, highlighted that BNU has a tight connection with Portuguese-speaking countries via its banking network which is present in seven lusophone countries.
“CDG Group and BNU are […] supportive of the Chinese and local government’s mission to make Macau a platform for closer commercial relations between China and Portuguese-speaking countries,” said Macedo in his speech.
Speaking to the press, the CEO also highlighted that BNU is cleared to trade in RMB in the region and that is a business the group intends to grow.
With the opening of a BNU branch in Hengqin earlier this year, Macedo pledged that the group will play a more active role in promoting businesses between Macau, China, and lusophone countries.
Macedo also noted that the group has a financial relationship with a substantial number of households and supports a significant number of large and small companies.
“BNU is a clear example that it is possible to be profitable while being socially and environmentally responsible,” he said, stressing that BNU supports over 70 social responsibility projects annually. One such example cited by Macedo was BNU’s post-typhoon SME & Individuals’ support loan program to assist Typhoon Hato victims.
Macedo also assured of BNU and CGD group’s engagement with the local government’s vision to promote the territory as a platform between China and lusophone countries.
“Through the implementation of this strategic movement, we are developing a suite of financial products and global financial service,” he said.
Although the competition in the banking sector could be tough, CEO of BNU Pedro Cardoso said that the Portuguese bank has long-been operating in Macau and is currently serving one-third of the population.
Cardoso previously told the Times that BNU had to “leverage its position in the Portuguese-speaking countries” while also focusing on improving the quality of service and innovation by providing new services targeting the particular needs of millennials.
Meanwhile, Wilson Vong, executive director of the Administrative Committee of Macao Monetary Authority, highlighted in his congratulatory address that BNU has actively responded to the government’s call for the development of the city’s financial industry.
He remarked that BNU also participated in a RMB clearing center for the Portuguese-speaking countries and the financial services platform between China and Portuguese-speaking countries.
