Banco Nacional Ultramarino
| Company type | Subsidiary |
|---|---|
| Industry | Banking, financial services |
| Founded | 1 January 1864 in Lisbon, Portugal |
| Headquarters | Macau , China (Special Administrative Region) |
Area served | Macau |
| Products | Banking services, currency note issuance (Macanese pataca) |
| Owner | Caixa Geral de Depósitos (majority shareholder since 1988) |
| Parent | Caixa Geral de Depósitos |
| Website | www |
Banco Nacional Ultramarino (, BNU; ; ) is a financial institution headquartered in Macau, specializing in banking and related services. Originally established as a Portuguese bank with a broad presence throughout Portugal's former overseas territories, it ceased to exist independently within Portugal following its 2001 merger with the state-owned Caixa Geral de Depósitos.
Currently, BNU continues to operate under its own name in Macau, a special administrative region of China and former Portuguese colony, where it maintains the authority to issue Macanese pataca currency notes.
Timeline
Established in Lisbon in 1864 as a note-issuing bank serving Portuguese overseas territories, BNU rapidly expanded by opening branches in Angola and Cape Verde by 1865, followed by São Tomé and Príncipe, Goa, and Mozambique in 1868.
Although the bank lost its monopoly on banking services in 1901, it preserved its right to issue currency notes within its operational regions. Its expansion persisted with new branches in Macau and Bolama (1902), Dili and Brazil, as well as representative offices in Stanleyville and Bombay between 1919 and 1920, later extending to London and Zhuhai.
In 1926, BNU’s exclusive note-issuing privilege in Angola was transferred to Banco de Angola, prompting the handover of its Stanleyville branch. The bank also founded subsidiaries including the Anglo-Portuguese Colonial and Overseas Bank in London and the Banque Franco-Portugaise d’Outre-Mer in Paris.
Following the 1974 nationalization by the Portuguese government, local authorities took control of BNU’s operations in Mozambique, São Tomé and Príncipe, and Cape Verde, leading to the establishment of new central and commercial banking institutions.
By 1988, Caixa Geral de Depósitos had acquired a majority stake in BNU. Throughout the 1990s, the bank continued to broaden its reach by opening additional branches and representative offices across Asia and Europe.
The 2001 merger integrated BNU into Caixa Geral de Depósitos; its Macau branch was restructured as Banco Nacional Ultramarino S.A., a wholly owned subsidiary that retained note-issuing privileges until 2010. Additionally, Caixa Geral secured majority ownership of Mercantile Lisbon Bank Holdings Limited in South Africa by 2002.
Banknotes
The Monetary Authority of Macao grants note-issuing rights for Macanese pataca currency to two institutions: the Bank of China and Banco Nacional Ultramarino S.A. (BNU), a subsidiary of CGD operating in Macau. Reflecting Macau’s Portuguese colonial legacy, these banknotes are printed with inscriptions in both Portuguese and Chinese.
BNU introduced its inaugural pataca banknotes in 1906 with denominations of 1, 5, 50, and 100 patacas. Later releases added denominations such as 10 and 25 patacas (1907), smaller avo notes (5, 10, 50 avo in 1920; 1 and 20 avo in 1942), along with a high-value 500 pataca note issued in 1944. After 1952, coins replaced denominations under 10 patacas, and the 25 pataca note was phased out by 1958.
Earlier banknote designs displayed the coat of arms of Portugal, whereas contemporary issues feature BNU’s corporate emblem.
The current series of BNU banknotes (issued from 2005) comprises:
| Denomination | Size | Color Scheme | Front Design | Back Design | Issue Date |
|---|---|---|---|---|---|
| MOP$10 | 138 × 69 mm | Yellow/Purple | Deusa A-Má Statue | BNU headquarters | August 8, 2005 |
| MOP$20 | 143 × 71.5 mm | Violet | Macau International Airport | August 8, 2005 | |
| MOP$50 | 148 × 74 mm | Brown | Sai Van Bridge | August 8, 2009 | |
| MOP$100 | 153 × 76.5 mm | Blue | Largo do Senado | August 8, 2005 | |
| MOP$500 | 158 × 79 mm | Green | Macau Tower | August 8, 2005 | |
| MOP$1000 | 163 × 81.5 mm | Orange | Macau Cultural Centre | August 8, 2005 |
These notes were produced by Hong Kong Note Printing Limited.