Mortgage Loans Statistics, June 2012

According to statistics released today by the Monetary Authority of Macao, new approvals of residential mortgage loans (RMLs) and commercial real estate loans (CRELs) rose in June 2012. With regard to outstanding balance, RMLs rose while CRELs edged down. New Lending Approved In June 2012, new RMLs approved by Macao banks edged up 0.9% month-to-month to MOP4.0 billion; of which, 94.1% was extended to residents. In terms of value, new RMLs to residents edged down 0.6% whereas those to non-residents rose 32.2%. New RMLs collateralised by uncompleted units (i.e. equitable mortgage) dropped 6.1% month-to-month to MOP145.1 million. All newly approved equitable mortgage was extended to residents. New CRELs increased month-to-month by 11.1% to MOP2.2 billion; of which, 91.5% was granted to residents. In terms of value, new CRELs to residents rose 4.8% whereas those to non-residents grew notably by 214.7% from one month earlier. Outstanding Balances As at end-June 2012, the outstanding value of RMLs reached MOP83.6 billion, an increase of 3.2% from one month earlier. The resident component made up 92.6% of the total. Outstanding RMLs to residents and non-residents grew by 3.2% and 2.9% respectively. Concurrently, the outstanding value of CRELs dropped 0.2% from end-May to MOP62.7 billion. Residents accounted for 90.2% of the loans. Compared with one month earlier, outstanding CRELs to residents edged down 0.3% whereas those to non-residents grew 0.9%. Delinquency Ratios At the end of June 2012, the delinquency ratio for RMLs remained unchanged from end-May at 0.07%. The ratio for CRELs edged up 0.01 percentage point to 0.10%.

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