Portuguese lender Banco Nacional Ultramarino (BNU), based in Macau, and the Bank of China Macau Branch have signed a co-operation protocol aiming at promoting business between companies in China and those in Portuguese Speaking Countries.

The news was given on Thursday by Rádio Macau, quoting BNU’s Chief Executive Officer, Pedro Cardoso.

“This is a way for the two issuing banks in Macau to work together, in order to develop the city as a true economic co-operation platform between China and the Portuguese Speaking countries”, Mr Cardoso said.

BNU’s CEO added that Bank of China has “a very large network in China”, while BNU and the Caixa Geral de Depósitos group – of which BNU is part – have a “unique positioning” in the Portuguese-Speaking world.

Mr Cardoso noted the Portuguese financial group is present “in seven Portuguese Speaking Countries, with retail banks”, and that it occupies a “leading position” in five of these nations.