According to statistics released today by the Monetary Authority of Macao, broad money supply continued to grow in January with a stable share of patacas.  Meanwhile, resident deposits increased from a month earlier while loans to residents remained broadly stable.

Money supply

Currency in circulation and demand deposits rose 11.1% and 1.3% respectively.  M1 thus increased 3.2% from one month earlier.  Meanwhile, quasi-monetary liabilities grew 0.8%.  The sum of these two items, i.e. M2, rose 1.1% to MOP658.7 billion.  On an annual basis, M1 and M2 increased 7.2% and 8.1% respectively.  The shares of pataca (MOP), Hong Kong dollar (HKD), renminbi (RMB) and United States dollar (USD) in M2 were 31.2%, 51.2%, 4.2% and 11.3% respectively.

Deposits

Resident deposits grew 0.9% from the preceding month to MOP640.9 billion whereas non-resident deposits dropped 0.2% to MOP240.1 billion. Meanwhile, public sector deposits with the banking sector decreased 1.8% to MOP233.8 billion.  As a result, total deposits in the banking sector increased 0.1% from a month earlier to MOP1,114.9 billion.  The shares of MOP, HKD, RMB and USD in total deposits were 19.4%, 50.8%, 3.8% and 23.0% respectively.

Loans

Domestic loans to the private sector remained virtually unchanged from the preceding month at MOP504.9 billion while external loans went up by 3.7% to MOP525.0 billion. As a result, total loans to the private sector increased 1.8% from a month earlier to MOP1,029.8 billion.  The shares of MOP, HKD, RMB and USD in total loans were 16.4%, 50.7%, 4.0% and 25.8% respectively.

Operating ratios

At end-January, the loan-to-deposit ratio for the resident sector dropped from 57.8% at end-December 2018 to 57.7%.  On the other hand, the ratio for both the resident and non-resident sectors grew from 90.8% to 92.4%.  The one-month and three-month current assets to liabilities ratios stood at 60.0% and 53.4% respectively.  Concurrently, the non-performing loan ratio stabilised at 0.2%.