Macau-based Banco Nacional Ultramarino (BNU) officially inaugurated its Hengqin branch, becoming Macau’s first locally incorporated bank to open a branch in the mainland.

A BNU statement quoted the bank’s CEO Pedro Cardoso as saying during the inauguration ceremony that “the Hengqin branch is a milestone in expanding our financial services to Guangdong province. We are committed to providing high-quality financial services such as traditional deposit and loan services, foreign exchange settlement and trade financing.”

Cardoso also said that “as the first international financial group to enter the Hengqin Free Trade Area, we are very confident about the future of Hengqin within the overall development of the Pearl River Delta Region.”

BNU Chief Executive Officer Pedro Cardoso delivers a speech during the opening ceremony of his bank’s branch in Hengqin. Photo: BNU

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