According to statistics released today by the Monetary Authority of Macao, broad money supply continued to grow in December with a stable share of patacas.  Meanwhile, both resident deposits and loans rose from a month earlier.

Money supply

Currency in circulation and demand deposits grew 1.6% and 0.5% respectively.  M1 thus increased 0.7% from one month earlier.  Meanwhile, quasi-monetary liabilities also rose 0.5%.  The sum of these two items, i.e. M2, increased 0.5% to MOP591.5 billion.  On an annual basis, M1 and M2 grew 13.7% and 11.1% respectively.  The shares of pataca (MOP), Hong Kong dollar (HKD), renminbi (RMB) and United States dollar (USD) in M2 were 30.9%, 54.2%, 4.1% and 9.0% respectively.

Deposits

Resident deposits grew 0.5% from the preceding month to MOP576.6 billion while non-resident deposits also rose 1.3% to MOP254.3 billion.  Meanwhile, public sector deposits with the banking sector increased 2.9% to MOP191.8 billion.  As a result, total deposits in the banking sector grew 1.1% from a month earlier to MOP1,022.6 billion.  The shares of MOP, HKD, RMB and USD in total deposits were 20.2%, 51.4%, 3.9% and 21.2% respectively.

Loans

Domestic loans to the private sector increased 1.6% from a month ago to MOP458.4 billion.  Among which, MOP139.2 billion was MOP-denominated, MOP295.9 billion was denominated in HKD, MOP0.3 billion was denominated in RMB and MOP19.4 billion was denominated in USD, representing 30.4%, 64.6%, 0.1% and 4.2% of the total respectively.  Analysed by economic sector, “construction and public works” and “exhibition and conference” increased at respective rates of 12.8% and 4.8% compared with a quarter ago, whereas “transport, warehouse and communications” and “manufacturing industries” dropped 13.5% and 9.9% respectively.

External loans dropped 0.3% to MOP437.6 billion; of which, loans denominated in MOP, HKD, RMB and USD accounted for 2.0% (MOP9.0 billion), 33.2% (MOP145.3 billion), 9.1% (MOP39.9 billion) and 48.1% (MOP210.5 billion) respectively.

Operating ratios

At end-December, the loan-to-deposit ratio for the resident sector rose from 59.4% at end-November to 59.7%.  However, the ratio for both the resident and non-resident sectors edged down from 88.0% to 87.6%.  Both the one-month and three-month current assets to liabilities ratios stayed at relatively high levels of 49.7% and 52.4% respectively.  Concurrently, the non-performing loan ratio edged down from 0.3% in the previous month to 0.2%.