According to statistics released today by the Monetary Authority of Macao, new approvals of residential mortgage loans (RMLs) dropped but new approvals of commercial real estate loans (CRELs) rose in the third quarter of 2011. With regard to outstanding balance, both RMLs and CRELs witnessed varied degrees of increase.

New Lending Approved

For the third quarter of 2011, new RMLs approved by Macao banks fell 41.3% quarter-to-quarter to MOP6.4 billion; of which, 96.1% was extended to residents. In terms of approved value, new RMLs to residents and non-residents dropped 39.8% and 63.8% respectively. When compared with the same period of 2010, new approvals of RMLs also dropped by 2.6%.

New RMLs collateralised by uncompleted units (i.e. equitable mortgage) dropped 73.8% quarter-to-quarter to MOP0.3 billion; of which 88.3% was extended to residents. The equitable mortgage to residents and non-residents dropped 74.4% and 67.7% respectively. When compared with the same period of 2010, this type of bank mortgage contracted by 56.5%.

After registering increase in the previous quarter, new CRELs approved rose further by 61.6% quarter-to-quarter to MOP14.0 billion; of which, 97.4% was granted to residents. In terms of approved value, new CRELs to residents soared 126.8% whereas those to non-residents dropped 86.1%. On an annual basis, new approvals of CRELs rose 39.3%.

Outstanding Balances

As at end-September 2011, the outstanding value of RMLs reached MOP74.3 billion, an increase of 5.0% from three months earlier or 34.8% from a year ago. The resident component made up 92.0% of the total. Outstanding RMLs to residents grew by 5.8% whereas outstanding RMLs to non-residents dropped 3.2% from three months earlier.

Concurrently, the outstanding value of CRELs rose 5.7% from end-June 2011 or 33.4% from end-September 2010 to MOP58.9 billion. Residents accounted for 89.9% of the loans. Compared with three months earlier, outstanding CRELs to residents rose 5.6% while those to non-residents increased 6.2%.

Delinquency Ratios

At the end of September 2011, the delinquency ratio for RMLs stood at 0.06%, down 0.01 percentage point from three months earlier or 0.05 percentage points from a year ago. The ratio for CRELs, at 0.12%, stayed flat from end-June 2011 or down 0.08 percentage points from end-September 2010.

For enquiry, please contact:

Research and Statistics Department

Monetary Authority of Macao

(Tel：83952532; Fax：28353042)