According to statistics released today by the Monetary Authority of Macao, broad money supply rebounded in January. As total deposits increased at a faster pace than total loans, the overall loan-to-deposit ratio of the banking sector dropped from a month earlier.
Money supply
Currency in circulation grew 18.7% whereas demand deposits dropped 3.1%. M1 thus increased 0.3% from one month earlier. Concurrently, quasi-monetary liabilities rose 5.1%. The sum of these two items, i.e. M2, increased 4.4% to MOP460.9 billion. On an annual basis, M1 and M2 rose 14.2% and 18.2% respectively. The share of Pataca (MOP) in M2 stood at 24.6%, up 0.5 percentage points from a month ago but down 0.5 percentage points from a year earlier. The share of Hong Kong Dollar (HKD) in M2 was 51.2%, down 2.1 percentage points month-to-month or 3.8 percentage points year-on-year.
Deposits
Resident deposits increased 4.1% from the preceding month to MOP450.3 billion. Of which, MOP deposits, HKD deposits and other foreign currency deposits increased at respective rates of 5.4%, 0.3% and 12.1%. Non-resident deposits rose 8.6% to MOP189.2 billion. Public sector deposits with the banking sector also increased 13.3% to MOP83.4 billion. As a result, total deposits with the banking sector grew 6.3% from a month earlier to MOP722.9 billion. The shares of MOP and HKD in total deposits were 18.8% and 42.0% respectively.
Loans
Domestic loans to the private sector increased 4.5% from a month ago to MOP269.0 billion. Among which, MOP79.6 billion was MOP-denominated and MOP166.3 billion was denominated in HKD, representing 29.6% and 61.8% of the total respectively. On the other hand, external loans rose 4.7% to MOP290.5 billion; of which, loans denominated in MOP and HKD accounted for 1.6% (MOP4.6 billion) and 23.3% (MOP67.6 billion) respectively.
Loan-to-deposit ratios
The loan-to-deposit ratio for the resident sector at end-January dropped 0.5 percentage points from the previous month to 50.4%. The ratio for both the resident and non-resident sectors also decreased 1.2 percentage points to 77.4%. For enquiry, please contact:
Research and Statistics Department, Monetary Authority of Macao (Tel: 83952532; Fax: 28353042)
