Monetary and financial statistics – March 2019

According to statistics released today by the Monetary Authority of Macao, broad money supply rebounded in March with a stable share of patacas. Meanwhile, both resident deposits and loans increased from a month earlier.

Money supply

Currency in circulation fell 1.2% month-to-month whereas demand deposits rose 1.0%. M1 thus increased 0.5% from one month earlier. Meanwhile, quasi-monetary liabilities grew 1.3%. The sum of these two items, i.e. M2, rose 1.2% to MOP662.1 billion. On an annual basis, M1 and M2 increased 5.4% and 9.6% respectively. The shares of pataca (MOP), Hong Kong dollar (HKD), renminbi (RMB) and United States dollar (USD) in M2 were 30.9%, 51.7%, 4.5% and 11.0% respectively.

Deposits

Resident deposits grew 1.3% from the preceding month to MOP645.3 billion whereas non-resident deposits fell 1.6% to MOP257.8 billion. Meanwhile, public sector deposits with the banking sector increased 0.2% to MOP239.6 billion. As a result, total deposits in the banking sector grew 0.4% from a month earlier to MOP1,142.8 billion. The shares of MOP, HKD, RMB and USD in total deposits were 18.9%, 51.5%, 4.1% and 22.5% respectively.

Loans

Domestic loans to the private sector grew 1.2% from a month ago to MOP511.0 billion. Analysed by economic sector, “information technology” and “wholesale and retail trade” increased at respective rates of 38.9% and 3.5% compared with a quarter ago, whereas “restaurants, hotels and similar” and “manufacturing industries” dropped 5.0% and 1.3% respectively. Meanwhile, external loans rose by 7.7% to MOP574.5 billion. As a result, total loans to the private sector increased 4.5% from a month earlier to MOP1,085.5 billion. The shares of MOP, HKD, RMB and USD in total loans were 15.7%, 49.0%, 7.0% and 25.6% respectively.

Operating ratios

At end-March, the loan-to-deposit ratio for the resident sector rose from 57.6% at end-February to 57.7%. Meanwhile, the ratio for both the resident and non-resident sectors grew from 91.2% to 95.0%. Both the one-month and three-month current assets to liabilities ratios stood at 47.8%. Concurrently, the non-performing loan ratio stabilised at 0.2%.



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