According to statistics released today (3 November) by the Monetary Authority of Macao, broad money supply retreated in September 2026. Meanwhile, resident deposits* fell from a month ago whereas loans to residents* posted an increase.
Money supply
Currency in circulation grew 1.0% whereas demand deposits dropped 7.8%, M1 thus decreased 5.2% from one month earlier. Meanwhile, quasi-monetary liabilities fell 0.6%. The sum of these two items, i.e. M2, dropped 1.0% to MOP859.3 billion. The shares of Macao pataca (MOP), Hong Kong dollar (HKD), renminbi (RMB) and United States dollar (USD) in M2 were 32.4%, 43.0%, 8.9% and 14.3% respectively.
Deposits
Resident deposits* dropped 1.1% from the preceding month to MOP836.3 billion while non-resident deposits* decreased 5.9% to MOP355.0 billion. On the other hand, public sector deposits with the banking sector increased 2.3% to MOP280.3 billion. As a result, total deposits in the banking sector fell 1.7% to MOP1,471.6 billion. The shares of MOP, HKD, RMB and USD in total deposits were 18.9%, 45.3%, 10.3% and 23.8% respectively.
Loans
Domestic loans to the private sector* rose 0.4% from a month ago to MOP474.2 billion. Analysed by economic sector, “restaurants, hotels and similar activities” and “construction” grew at respective rates of 6.5% and 2.2% when compared with a quarter ago, whereas “electricity, gas and water supply” and “transport, storage and communications” fell 4.9% and 3.2% respectively. Concurrently, external loans* decreased 0.1% from the preceding month to MOP565.2 billion. As a result, total loans of the banking sector rose 0.1% to MOP1,039.4 billion. The shares of MOP, HKD, RMB and USD in total loans were 22.1%, 40.4%, 16.7% and 16.8% respectively.
Operating ratios
At end-September 2026, the overall loan-to-deposit ratio increased from 69.3% at end-August to 70.6%, while the ratio for the resident sector increased from 42.2% to 42.5%. The one-month and three-month current assets to liabilities ratios stood at 56.6% and 47.6% respectively. Concurrently, the non-performing loan ratio stabilised at 4.4% from a month ago.
* Resident and non-resident deposits, as well as domestic loans to the private sector and external loans, cover both individuals and enterprises.
