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Banco Nacional Ultramarino
Banco Nacional Ultramarino
(Portuguese pronunciation: [ˈbɐ̃ku nɐsiuˈnaɫ uɫtɾɐmɐˈɾinu]; Chinese: 大西洋銀行; English: National Overseas Bank) was a Portuguese bank with operations throughout the world, especially in Portugal's former overseas provinces. It ceased existence as an independent legal entity in Portugal
Portugal
following its merger in 2001 with Caixa Geral de Depósitos, the government-owned savings bank. The Chinese name's meaning is literally Great West Ocean Bank
Bank
or Atlantic Bank. The bank continues operations today under the Banco Nacional Ultramarino brand in Macau, a Chinese Special
Special
Administrative Region and former Portuguese colony, where it is also licensed to issue Macanese pataca
Macanese pataca
banknotes.

Contents

1 Timeline 2 Banknotes 3 See also 4 References 5 External links

Timeline[edit]

BNU logo

Bas-relief at Banco Nacional Ultramarino, Lisbon, of the coats-of-arms of the Portuguese Empire
Portuguese Empire
and various of its colonies

BNU Macau

BNU Tower in Macau

Banco Nacional Ultramarino
Banco Nacional Ultramarino
(BNU) was established in Lisbon, Portugal, in 1864 as a bank of issue for Portuguese overseas territories. the next year it opened branches in Luanda, Angola
Angola
and Praia, Cabo Verde. Three years after that, in 1868, BNU opened branches in São Tomé and Príncipe, Goa, and Mozambique. In 1901 BNU lost its banking monopoly, but retained its note-issuing monopoly in the countries in which BNU operated. The next year, BNU opened branches in Macau
Macau
and in Bolama, Portuguese Guinea (present-day Guinea-Bissau). Just before World War I, in 1912, BNU opened branches in Dili, East Timor (present-day Timor Leste), and in Brazil.

1919 - BNU established a representative office in Stanleyville and a branch in Paris. 1920 - BNU established a representative office in Bombay. 1926 - BNU lost its note-issuing monopoly in Angola
Angola
with creation of Banco de Angola. BNU transferred its branch in Stanleyville to Banco de Angola.[1] 1929 - BNU established Anglo-Portuguese Colonial and Overseas Bank, its subsidiary in London, and converted its branch in Paris
Paris
to a subsidiary, Banque Franco-Portugaise d’Outre-Mer.

In 1952 BNU closed its branches in India. In 1965 BNU, Banco Português do Atlântico, Banco de Angola, and the South African company, General Mining and Finance, founded Bank
Bank
of Lisbon
Lisbon
and South Africa. This was later renamed Mercantile Lisbon Bank. In the 1970s, BNU bought a stake in Banque Interatlantique in Luxembourg, and established a representative office in London. In 1974 the Portuguese government nationalized BNU, following the Carnation Revolution. Immediately thereafter, in 1975, local governments nationalized BNU's interests in Mozambique, which became Banco de Moçambique, and in São Tomé and Príncipe, which became National Bank
Bank
of São Tomé and Príncipe. In 1993, the government split National Bank
Bank
into a central bank, Central Bank
Bank
of São Tomé and Príncipe, and a commercial bank, Banco Internacional de Sao Tome e Principe. In Cape Verde, BNU's interests became Bank
Bank
of Cape Verde. In 1993, the government spun off the commercial banking operations into a new bank, Banco Comercial do Atlantico.

1988 - Portuguese Government-owned Caixa Geral de Depósitos became the majority shareholder of BNU, with the Republic of Portugal
Portugal
the sole other shareholder. 1991 - BNU opened a branch in London. 1993 - BNU opened a branch in Zhuhai, a Special
Special
Economic Zone of China. 1993 - Caixa Geral de Depósitos (CGD) became the majority shareholder in Banque Franco-Portugaise d’Outre-Mer. In 2002, CGD closed the bank by merging its operations into CGD's branch in Paris. 1995 - The Chinese government confirmed that BNU would remain a note issuer in Macao until at least 2010. 1999 - BNU opened representative offices in Mumbai
Mumbai
and Panjim
Panjim
(Goa), and a branch in Dili, Timor Leste. 2000 - BNU reached an agreement with the Administration of Macau Special
Special
Administrative Region of the People's Republic of China, under which BNU remains an Agent of the Treasury. 2001 - BNU and Caixa Geral de Depósitos merged through incorporation of BNU into Caixa Geral de Depósitos; Banque Franco-Portugaise d’Outre-Mer became a branch of Caixa Geral; on July 1, 2000, the Macau
Macau
branch of Banco Nacional Ultramarino
Banco Nacional Ultramarino
became a bank incorporated in Macau
Macau
SAR under the name Banco Nacional Ultramarino
Banco Nacional Ultramarino
S.A., but remained wholly owned subsidiary of Caixa Geral de Depósitos, retaining until 2010 its functions as a note issuer and Agent of the Treasury. 2002 - Caixa Geral acquired majority ownership (64.8%) of the South African focused bank holding company - Mercantile Lisbon
Lisbon
Bank
Bank
Holdings Limited (MLBH), now known as Mercantile Bank
Bank
Holdings Limited, which operates the Mercantile Bank.

Banknotes[edit]

MOP$100 banknotes issued by BNU

The Monetary Authority of Macao
Monetary Authority of Macao
has authorized two banks to issue banknotes denominated in Macanese pataca, the Bank
Bank
of China and Banco Nacional Ultramarino S.A., CGD's subsidiary in Macau.[2][3] Owing to Macau's Portuguese colonial past, the languages on the banknotes feature Portuguese as well as Chinese. The Banco Nacional Ultramarino
Banco Nacional Ultramarino
introduced its first pataca notes in 1906, in denominations of 1, 5, 50 and 100 pataca. The next year it introduced 10 and 25 pataca notes. The BNU began to issue lower-value notes with 5, 10 and 50 avo notes in 1920, and 1 and 20 avo notes in 1942. In 1944, it introduced a 500 pataca note. After 1952, coins replaced denominations below 10 patacas. The bank discontinued the 25 pataca note in 1958. Previous note designs included the coat of arms of Portugal; the current issue BNU's corporate logo has replaced the coat of arms. The current issue of BNU banknotes is:

Banco Nacional Ultramarino
Banco Nacional Ultramarino
2005 Series Banknote

Value Dimensions Color Obverse Reverse Printed Date

MOP$10 138 × 69 mm Yellow/Purple Statue of Deusa A-Má of Macau BNU building August 8, 2005

MOP$20 143 × 71.5 mm Violet Macau
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
Macau
Tower August 8, 2005

MOP$1000 163 × 81.5 mm Orange Macau
Macau
Cultural Centre August 8, 2005

The 2005 series of BNU was printed by Hong Kong Note Printing Limited - Hong Kong. See also[edit]

Macanese pataca Mercantile Bank
Bank
Holdings Limited Caixa Geral de Depósitos

References[edit]

^ Mambu ma Khenzu, E. 2006. A Modern History of Monetary and Financial Systems of Congo, 1885-1995. (Lewiston, New York: Edwin Mellen), p. 132. ^ "BNU Banknotes Online Exhibition". Banco Nacional Ultramarino
Banco Nacional Ultramarino
S.A. (Macau). Archived from the original on 7 December 2008. Retrieved 2008-11-06.  ^ "Issuance of banknotes". Bank
Bank
of China (Macau). Archived from the original on 2008-06-11. Retrieved 2008-11-06. 

External links[edit]

Banco Nacional Ultramarino
Banco Nacional Ultramarino
branch in Macao Banknotes issued in Macao by the Banco Nacional Ultramarino
Banco Nacional Ultramarino
(in English) (in German)

v t e

Banks of Macau

Monetary Authority of Macao

Banco Delta Asia Banco Nacional Ultramarino China Construction Bank
Bank
(Macau) Espírito Santo Financial Group Macau
Macau
Chinese Bank Industrial and Commercial Bank
Bank
of China (Macau) Banco OCBC Weng Hang, S.A.

Category:Banks of Macau List of banks in China List of

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