According to statistics released today by the Monetary Authority of Macao, broad money supply continued to grow in January with a relatively stable share of patacas.  On the other hand, resident deposits rose from a month ago whereas loans to residents posted a decline.

Money supply

Currency in circulation grew 13.2% whereas demand deposits dropped 0.8%. M1 thus increased 2.2% from one month earlier.  On the other hand, quasi-monetary liabilities rose 0.6%.  The sum of these two items, i.e. M2, increased 0.8% to MOP536.8 billion. On an annual basis, M1 and M2 grew 0.7% and 13.3% respectively.  The shares of Pataca (MOP), Hong Kong Dollar (HKD), Renminbi (RMB) and United States Dollar (USD) in M2 were 32.1%, 52.2%, 4.0% and 9.4% respectively.

Deposits

Resident deposits increased 0.5% from the preceding month to MOP521.4 billion while non-resident deposits grew 0.3% to MOP249.1 billion. On the other hand, public sector deposits with the banking sector dropped 2.5% to MOP170.5 billion.  As a result, total deposits with the banking sector decreased 0.1% from a month earlier to MOP941.1 billion. The shares of MOP, HKD, RMB and USD in total deposits were 22.0%, 46.9%, 4.1% and 23.7% respectively.

Loans

Domestic loans to the private sector decreased 1.7% from a month ago to MOP415.5 billion. Among which, MOP123.6 billion was MOP-denominated, MOP269.8 billion was denominated in HKD, MOP2.7 billion was denominated in RMB and MOP17.7 billion was denominated in USD, representing 29.8%, 64.9%, 0.6% and 4.3% of the total respectively.  External loans rose 3.2% to MOP373.1 billion; of which, loans denominated in MOP, HKD, RMB and USD accounted for 1.8% (MOP6.8 billion), 26.3% (MOP98.0 billion), 11.6% (MOP43.3 billion) and 54.0% (MOP201.5 billion)  respectively.

Operating ratios

At end-January, the loan-to-deposit ratio for the resident sector dropped 0.9 percentage points from the previous month to 60.0%.  The ratio for both the resident and non-resident sectors rose 0.5 percentage points to 83.8%. The one-month and three-month current assets to liabilities ratios stayed at relatively high levels of 50.6% and 52.5% respectively.  In addition, the non-performing loan ratio was unchanged from one month earlier but up slightly by 0.1 percentage point from one year ago, at 0.2%.