Banco Nacional Ultramarino (BNU) has recorded a profit of MOP447.4 million in 2021, a 6.4% increase in revenue from 2020, as published in the Official Gazette. In 2020 when the pandemic started, profits amounted to MOP420.3 million in 2020, a significant plunge of 41.7% compared to 2019, when the bank closed the year with profits of MOP721.9 million. Following the results last year, BNU explained the decline as being due to the Covid-19 pandemic situation, which had dragged down the interest rates on loans and led to a significant fall in credit card transactions, particularly by tourists.
BOC revenues reach MOP6b in 2021
The Bank of China-Macau (BOC) recorded a profit last year of some MOP6 billion, an official financial report published yesterday at the Official Gazette shows. The figure represents a 7.5% increase from the revenues recorded last year. In 2021, the Bank of China (BOC), the parent company of Bank of China-Macau has received the green light from the authorities in mainland China and the Macau SAR to open a subsidiary in Macau. The project involves the investment of MOP13 billion. The bank explained that this investment is “a prominent move which will serve the national strategy, support the construction of the Greater Bay Area, and satisfy the needs of the Macau SAR in developing financial services with special characteristics.”
UM professor elected int’l STEM ambassador
Professor Tam Kam Weng in the Department of Electrical and Computer Engineering, Faculty of Science and Technology (FST), University of Macau (UM), has been elected as International STEM Ambassador of the Institute of Electrical and Electronic Engineers (IEEE). Tam is the only scholar from Macau to receive this honor this year, according to a statement issued by the UM. In this position, he will assist IEEE in researching and formulating policies for international STEM education as well as hosting STEM training activities and competitions.
