Overview of Banks in Macau
There are 27 licensed banks in Macau, of which four are headquartered in the Macau SAR. Traditionally, the economy of Macau focused on gambling and gambling-related activities. However, it is now considered a hub for Chinese banking activities, playing a crucial role in the internationalization of the RMB. Although Macau’s banking sector is still relatively immature compared to traditional banking hubs such as Singapore and Hong Kong, it is growing at a rapid pace.
The Top Banks in Macau are:
Bank of China
The Bank of China Macau Branch, originally established as Nam Tung Bank in Macau in June 1950, is the largest of the banks in Macau by assets, with a 40% share of local financial activities. Besides being one of the two note-issuing banks in the country, it serves as a clearinghouse for various foreign currencies. It sits as a member of several economic councils of the Macau SAR Government.
In 2011, the Bank of China Macau Branch became the first financial institution to receive the Medal of Merit from the SAR Government. It is the largest overseas branch of the Bank of China.
Net income: MOP 5.64 billion (2020)
Total assets: MOP 785.84 billion (2020)
The Industrial and Commercial Bank of China (Macau), formerly known as the Seng Heng Bank, is the third largest of locally established banks in Macau. In 2009, ICBC purchased 79.9% of the bank, which then became a subsidiary of ICBC.
ICBC holds the distinction of being the first bank to issue prepaid debit cards in Greater China. The bank operates 20 branches, two service centers, five wealth management centers, one Peony Credit Card VIP service center, 33 self-help banks, and 418 ATMs in Macau.
Net income: MOP 3.0 billion (2019)
Total assets: MOP 377.65 billion (6/2020)
Tai Fung Bank
Tai Fung Bank Limited, which started as Tai Fung Money Changer, was founded in 1942 by Ho Yin and several business magnates from Macau and Hong Kong. In 1972, it adopted the name Tai Fung Bank and became the first local bank in Macau. In 1984, it became a subsidiary of the Bank of China, and it currently holds a market share of about 11.2%.
Apart from traditional services such as deposits, loans, and trade finance, Tai Fung Bank is also involved in several financial development activities in Macau. The bank currently operates 25 local branches and one branch in Shanghai.
Net income: MOP 2.18 billion (2019)
Total assets: MOP 183.77 billion (2019)
Luso International Banking (LIB)
Luso International Banking (LIB) was established and registered in Macau in 1974. In 1985, the bank became a subsidiary of Xiamen International Bank, the first joint-venture bank in China. As one of the major commercial banks in Macau, it employs over 500 staff in 13 branches.
LIB is a prudent and active financial institution and is determined to provide high-quality services for the prosperity and development of Macau. The bank offers personal banking, trade financing, and consumer and corporate banking services.
Net income: MOP 1.35 billion (2017)
Total assets: MOP 161.8 billion (2017)
Banco Nacional Ultramarino (BNU)
Banco Nacional Ultramarino (BNU) is essentially a Portuguese bank that was established in Lisbon in 1864 but now operates only in its former colony. In 1901, BNU opened branches in Macau as the bank expanded into Portugal’s overseas provinces, including India and East Timor.
In 2001, the bank merged with Caixa Geral de Despositos and ceased being an independent legal entity. It is the only other bank besides the Bank of China that is authorized to issue Macanese Pataca banknotes.
Net income: MOP 719.8 million (2019)
Total assets: MOP 57.58 billion (2019)
OCBC Wing Hang Bank
OCBC Wing Hang Bank Limited (Macau) is a wholly-owned subsidiary of OCBC Wing Hang Bank Limited (Hong Kong), which was established in 1941 as Banco Wen Hang. It became a full subsidiary of OCBC Bank, the second-largest financial group in Southeast Asia, in 2014.
It operates about 12 sub-branches in Macau, with about 500 employees. OCBC Wing Hang Bank Limited (Macau) offers customers an augmented banking network, enhanced market access, and an expanded range of products and services for their personal and business financial needs.
Net income: MOP 350.4 million (2019)
Total assets: MOP 36.29 billion (2019)
Banco Comercial De Macau
BCM Bank is one of the leading locally incorporated banks in Macau. Founded in 1974, the bank is a major player in Macau’s financial sector, in addition to being a partner in several infrastructural projects. In 2005, BCM Bank became a subsidiary of Hong Kong-based Dah Sing Banking Limited. It currently operates 14 branches in Macau.
Net income: MOP 172.05 million (2019)
Total assets: MOP 22.99 billion (2019)
Banco Well Link
Banco Well Link (formerly Novo Banco Asia) is the only overseas unit of Portugal-based Novo Banco Group. Established in 1996, Banco Well Link is involved in the gaming, entertainment, and tourism industries in Macau, in addition to its commercial and industrial financial activities.
The Novo Banco Group’s large network of business units and ties with African and Latin American countries enable the bank to support Chinese companies looking to expand their businesses and invest abroad. The bank’s only overseas branch is located in Shanghai.
Net income: MOP 58.47 million (2019)
Total assets: MOP 10.12 billion (2019)
Macau Chinese Bank
Formerly known as Finibanco since its establishment in 1995, Macau Chinese Bank primarily operates as a commercial bank. It is a subsidiary of Winhise Holding Limited, which owns majority shares in MCB since 2002.
In addition to the bank’s general commercial and insurance services, MCB offers SME financing, international trade, import and export financing, and customer deposits such as MOP/HKD saving accounts, MOP/HKD checking accounts, MOP/HKD time deposits, and USD/EUR time deposits.
Net income: MOP 85.24 million (2016)
Total assets: MOP 142.70 billion (2016)
Banco Delta Asia
Banco Delta Asia is a Macau-based bank owned by Delta Asia Financial Group. The bank was founded in 1935 by Au Wing Ngok, father of Stanley Au, its current chairman. It is the tenth-largest of the banks in Macau, employing only 150 staff. Banco Delta Asia previously faced sanctions from the US Government for accepting deposits from the North Korean Government. These sanctions were lifted in August 2020.
Net income: MOP 48.12 million (2016)
Total assets: MOP 98.25 billion (2016)
Careers in Investment Banking
To break into investment banking, there are several important things to focus on. These include networking, resume, experience, and financial modeling skills. To learn more, explore our interactive career map:
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This has been CFI’s guide to the top banks in Macau. For anyone looking for a career in banking, this list is a great place to start your networking. Please also see these additional resources: