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

New Lending Approved

For the fourth quarter of 2011, new RMLs approved by Macao banks fell 27.7% quarter-to-quarter to MOP4.6 billion; of which, 91.0% was extended to residents. In terms of approved value, new RMLs to residents dropped 31.5% whereas those to non-residents rose 65.6% respectively. When compared with the same period of 2010, new approvals of RMLs also dropped by 55.6%.

New RMLs collateralised by uncompleted units (i.e. equitable mortgage) dropped 49.9% quarter-to-quarter to MOP124 million. All newly approved equitable mortgage was extended to residents. When compared with the same period of 2010, this type of bank mortgage contracted by 90.5%.

After registering increase in the previous quarter, new CRELs approved declined by 24.9% quarter-to-quarter to MOP10.5 billion; of which, 93.5% was granted to residents. In terms of approved value, new CRELs to residents contracted 27.9% whereas those to non-residents rose 85.2%. On an annual basis, new approvals of CRELs grew 39.1%.

Outstanding Balances

As at end-December 2011, the outstanding value of RMLs reached MOP76.2 billion, an increase of 2.6% from three months earlier or 24.5% from a year ago. The resident component made up 91.8% of the total. Outstanding RMLs to residents and non-residents grew by 2.4% and 4.2% respectively when compared with three months earlier.

Concurrently, the outstanding value of CRELs rose 6.5% from end-September 2011 or 28.1% from end-December 2010 to MOP62.7 billion. Residents accounted for 91.0% of the loans. Compared with three months earlier, outstanding CRELs to residents rose 7.8% whereas those to non-residents dropped 5.0%.

Delinquency Ratios

At the end of December 2011, the delinquency ratio for RMLs stood at 0.09%, up 0.03 percentage points from three months earlier or down 0.01 percentage point from a year ago. The ratio for CRELs went down 0.01 percentage point from end-September 2011 or 0.07 percentage points from end-December 2010, to 0.10%.

For enquiry, please contact:

Research and Statistics Department

Monetary Authority of Macao

(Tel：83952532; Fax：28353042)