[2020-11-13] BNU keen to back business between China, lusophone world

Source: Macauhub

Macao’s Banco Nacional Ultramarino SA (BNU) is eager to support business between China and Portuguese-speaking parts of the world, Lusa reports, citing BNU Chief Executive Carlos Cid Álvares.

The Portuguese news agency says Mr Cid Álvares was speaking on Tuesday at the formal renewal until 2030 of the exclusive privilege of BNU and the Macao branch of Bank of China Ltd toissue pataca banknotes.

The report quotes Mr Cid Álvares as saying the BNU network, which reaches seven lusophone countries and the mainland Chinese cities of Shanghai and Zhuhai, puts the Macao bank in a strategic position to spur such business.

BNU can help lusophone countries take economic opportunities arising from the development of the Guangdong-Hong Kong-Macao Greater Bay Area and the Chinese-led One Belt, One Road initiative, Lusa quotes Mr Cid Álvares as saying.

BNU is owned by Caixa Geral de Depósitos, a Portuguese state-owned bank.