100 Escudos

The Banco Nacional Ultramarino was Portugal's colonial banking arm, chartered in 1864 to operate across the overseas territories rather than metropolitan Portugal. By 1945 it was issuing currency for multiple colonies simultaneously under broadly similar series designs — the same Bradbury Wilkinson plant in New Malden produced notes for Angola, Mozambique, Cape Verde, and Portuguese Guinea in overlapping periods, often from closely related plate work.

Without a confirmed territory of issue attached to P#45, the specific circulation story remains difficult to pin down. Bradbury Wilkinson's wartime and immediate postwar output for colonial issuers was extensive, and notes from this period often show slightly uneven inking on the back due to paper supply constraints affecting print runs across 1944–46.