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“Nam Tung” Formally Registered as a “Bank”

2016-05-24

As the import trading activities in Macau became increasingly active, the volume of remittance to the Mainland grew substantially. In 1970, the Portuguese were invited by the Macau government to help draft the first “Ordinance regulating Bank and Yin-Hao”. From then on, the government started to regulate and relax the issuance of banking licenses.

In June 1974, “Nam Tung” Yin-Hao, was formally incorporated as “Nam Tung Bank Limited” and took a more diversified approach in its operation, providing all kinds of banking products and services as permitted by law, ranging from traditional banking products such as deposits, loans, remittance and insurance, etc. to new products in demand such as international settlement, mortgage, corporate loan and foreign exchange, etc. The Bank was thus well-prepared for the booming economy of the mid 70’s and the new era that came with the Open Door Policy of our motherland in the late 70’s.

The Open Door Policy of the Mainland in 1979 provided tremendous business development opportunities for this branch in Macau. Stronger support has been extended to those local enterprises which were looking for investment opportunities in the Mainland. Services provided for Chinese companies were both broadened in scope and expanded in range. Banking services such as syndicated loan and project financing, etc. were launched. Customer mix expanded from simply China trade companies to businesses from various industries. While its branch network expanded to cover every corner of Macau, the number of sub-branches and the business volume had increased gradually over the years to eventually become the leading bank in Macau. Being the first bank to install high-volume computer, the level of service provided to our customers were greatly improved.

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