[2020-02-17] BNU Timor has biggest share of deposits in Timor Leste in 2019

Source: Macauhub

Banco Nacional Ultramarino (BNU) was the bank in Timor Leste with the largest share of deposits in 2019, with a market share of 37%, and the third in the granting of loans, according to the consolidated balance sheets of five banks that operate in the country.

The documents cited by Portuguese news agency Lusa showed that the BNU had about US$388.31 million in customer deposits, or US$85 million more than at the end of the previous year.

Indonesian Bank Mandiri, which had the second largest portfolio of deposits, fell from US$376.2 million to US$340.88 million in 2019, followed by Australia’s ANZ, which only operates in the business market, where the total of US$183.88 million in deposits fell to US$149.5 million.

The next in line is Banco Nacional de Comércio de Timor-Leste (BNCTL), which slightly increased total deposits to US$125.6 million and finally Indonesian bank BRI, which saw deposits grow from US$26.79 million to US$33.69 million.

The situation is virtually reversed in the case of loans, with the BNCTL having the largest amount, rising from US$82 million to US$89.2 million, and the BRI’s loans increased from US$26.79 million to US$33.69 million.

The data cited by the agency showed that the BNU is the only financial institution with significant amounts of provisions for these credits, with approximately US$12 million provisioned, or one-third of its portfolio.

The provisions of the BNU, the oldest institution to operate in the country, represent 74% of all provisions of the Timorese financial system, with all other entities having only residual provisions and Mandiri has no provisions at all.

The consolidated balance sheets show that last year the BNU posted exploration results of US$8.1 million and profits of US$7.89 million, the best numbers in the entire system.