According to statistics released today by the Monetary Authority of Macao, new approvals of residential mortgage loans (RMLs) increased whereas new approvals of commercial real estate loans (CRELs) continued to drop in the fourth quarter of 2010. On outstanding balance, increases were observed in both RMLs and CRELs.
New Lending Approved
For the fourth quarter of 2010, new RMLs approved by Macao banks increased by 58.6% quarter-to-quarter to MOP10.4 billion; of which, 92.9% was extended to residents. In terms of approved value, new RMLs to residents and to non-residents rose 58.8% and 55.9% respectively. When compared with the same period of 2009, new approvals of RMLs increased by 58.0%.
After registering decline in the previous quarter, new CRELs approved decreased further by 24.8% quarter-to-quarter to MOP7.6 billion in the fourth quarter of 2010; of which, 87.0% was granted to residents. In terms of approved value, new CRELs to residents dropped by 33.4% whereas new CRELs to non-residents rose significantly by 487.7%. On an annual basis, new approvals of CRELs rose by 19.4%.
Outstanding Balances
As at end-December 2010, the outstanding value of RMLs reached MOP61.2 billion, an increase of 11.0% from three months earlier or 38.5% from a year ago. The resident component made up 89.7% of the total. Outstanding RMLs to residents and non-residents grew by 11.9% and 4.0% respectively from three months earlier.
Concurrently, the outstanding value of CRELs rose 10.9% from end-September 2010 or 32.4% from end-December 2009 to MOP48.9 billion. Residents accounted for 89.5% of the loans. Outstanding CRELs to residents and non-residents rose 11.3% and 7.3% respectively from three months earlier.
Delinquency Ratios
At the end of December 2010, the delinquency ratio for RMLs stood at 0.10%, down 0.01 percentage point from three months earlier or 0.09 percentage points from a year ago. The ratio for CRELs went down 0.03 percentage points from end-September 2010 or 0.06 percentage points from end-December 2009, to 0.17%.
