BNU records MOP122.4 million Q1 profit

The Banco Nacional Ultramarino (BNU) has revealed its first performance of the year, highlighting an unaudited profit after tax of MOP122.4 million during Q1, compared to about MOP39.9 million for the same period last year. Interest rate rises explain the strong performance, which has led to a net income of MOP68.9 million compared to only MOP40.9 million last year. “The bank’s strong Q1 2023 results and ongoing commitment to its clients and stakeholders demonstrate its strength and resilience in a volatile economic environment,” the BNU said.