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From “Nam Tung Bank” to “Bank of China Macau Branch”


On the new year day of 1987, Nam Tung Bank was approved by the Macau government to change its name formally to Bank of China Macau Branch. Such change symbolized 2 important milestones. On the one hand, in the early 80s, the Macau government announced the Macau Financial System and Banking Ordinance (in Chinese《澳門金融結構暨銀行管制法令》), an open policy to relax the in-flow of capital investment and broaden the range of products and services provided by the financial institutions. A number of foreign banks thus opened their branches in Macau and further enhanced the level of internationalization of the financial industry of Macau. On the other hand, in June 1986, when the talks between the Chinese and the Portuguese governments regarding the future of Macau began, Bank of China took on the responsibility to help stabilizing the financial market and promote the well-being of the financial industry. Being the bank responsible for foreign exchange and international trade for the Mainland, Bank of China has been an important “window” under the Open Door Policy and the major fund raising channel for overseas financing. Both the global recognition and the ranking in asset scale of Bank of China have risen over the years. That’s why the official naming of Nam Tung Bank as a branch of Bank of China, not only upgraded the bank itself, but also enhanced the overall image and the standard of business operation of the financial industry in Macau.

After the name change, the Macau Branch set forth the mission of “Rooted in Macau, Steadfast in Serving”. Through the provision of loans and mortgages, remittance and global trade services, the bank enhanced the development of those pillar industries, such as tourism, real estate development and export trading, and strengthened the support for infrastructure projects, including acting as the guarantor for the 1.2 billion Hong Kong dollar bond issued by Macau International Airport Company Ltd. to ensure the smooth construction of the airport, providing financing for special projects of various local industries to help upgrade their products and competitiveness in the global market, providing financing for the startups and working capital for various hotel projects, tourism related companies and public transportation investors, and providing financing and bank guarantees for infrastructure projects. Meanwhile, Bank of China Macau Branch participated more actively in various financial and social activities, and assisted AMCM to get the approval to allow MOP to be listed and exchanged in major cities of the Mainland.

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