Skip to content
Menu

BNU Macau concludes first six months with net results up 17 per cent

Banco Nacional Ultramarino (BNU Macau) concluded the first half of 2016 with year-on-year growth of 17 percent in net results, which amounted to MOP278.57 million (US$34.8 million), said chief executive officer Pedro Cardoso. Cardoso told Macauhub on Monday that all key banking business indicators showed improvements when half-years were compared. He highlighted, for example, the […]

ARTICLE BY

PUBLISHED

READING TIME

Less than 1 minute Minutes

ARTICLE BY

PUBLISHED

READING TIME

Less than 1 minute Minutes

UPDATED: 22 Dec 2023, 5:46 am

Banco Nacional Ultramarino (BNU Macau) concluded the first half of 2016 with year-on-year growth of 17 percent in net results, which amounted to MOP278.57 million (US$34.8 million), said chief executive officer Pedro Cardoso.

Cardoso told Macauhub on Monday that all key banking business indicators showed improvements when half-years were compared. He highlighted, for example, the indicator for the ratio between support staff and employees who deal directly with clients, which has been falling steadily and is currently 1.03.

The number of clients increased year-on-year by 4.5 percent to this half-year’s figure of 217,400, a third of Macau’s population. Increases were posted for products per active client (up 6.1 percent to 3.46), turnover (up 16.9 percent to MOP91.2 billion), deposits (up 25.3 percent to MOP51.557 billion) and loans (up 7.5 percent to MOP27.259 billion).

Cardoso also said that in the first half-year non-performing loans represented only 0.17 per cent of credit granted, versus 0.50 per cent during the same period of 2015, that financial margin was up 13.5 per cent to MOP382.3 million and that operating expenses grew by just 2.8 per cent to MOP149.9 million. He highlighted that the cost/revenue ratio had fallen to under 30 per cent, standing at 29.99 per cent at the end of June.

These figures are all the more relevant when compared to those for the first-half of 2012, “when our transformation plan began,” the CEO of BNU explained.

For example, when net results are compared between the first half of 2012 and the same period of 2016, they show growth of 87.2 per cent (from 148.7 million to MOP278.5 million), with loans overdue for more than 90 days down from 1.79 per cent to the current 0.17 per cent and the cost/revenue ratio down from 45.49 per cent to the current 29.99 per cent.

BNU Macau currently has a workforce of 480 employees and 19 branches, which should rise to 20 by the end of the year. (Macau News/ Macauhub)

 

 

UPDATED: 22 Dec 2023, 5:46 am

Send this to a friend