According to statistics released today by the Monetary Authority of Macao, broad money supply continued to grow in September with a stable share of patacas. Meanwhile, both resident deposits and loans increased from a month earlier.
Money supply
Currency in circulation grew 3.2% month-to-month whereas demand deposits dropped 5.3%. M1 thus decreased 3.6% from one month earlier. On the other hand, quasi-monetary liabilities rose 1.4%. The sum of these two items, i.e. M2, increased 0.8% to MOP626.4 billion. On an annual basis, M1 and M2 grew 13.1% and 10.3% respectively. The shares of pataca (MOP), Hong Kong dollar (HKD), renminbi (RMB) and United States dollar (USD) in M2 were 31.0%, 51.7%, 4.3% and 11.0% respectively.
Deposits
Resident deposits grew 0.7% from the preceding month to MOP610.5 billion while non-resident deposits also rose 3.3% to MOP244.2 billion. Meanwhile, public sector deposits with the banking sector increased 2.1% to MOP223.7 billion. As a result, total deposits in the banking sector grew 1.6% from a month earlier to MOP1,078.4 billion. The shares of MOP, HKD, RMB and USD in total deposits were 19.7%, 51.6%, 3.9% and 21.8% respectively.
Loans
Domestic loans to the private sector grew 2.7% from a month ago to MOP491.5 billion. Analysed by economic sector, “exhibition and conference” and “restaurants, hotels and similar” increased at respective rates of 10.2% and 6.0% compared with a quarter ago, whereas “manufacturing industries” and “construction and public works” dropped 20.3% and 5.9% respectively. On the other hand, external loans dropped 2.0% to MOP492.9 billion. As a result, total loans to the private sector grew 0.3% from a month earlier to MOP984.4 billion. The shares of MOP, HKD, RMB and USD in total loans were 16.1%, 50.5%, 3.2% and 26.9% respectively.
Operating ratios
At end-September, the loan-to-deposit ratio for the resident sector rose from 58.0% at end-August to 58.9%. On the other hand, the ratio for both the resident and non-resident sectors dropped from 92.5% to 91.3%. The one-month and three-month current assets to liabilities ratios stayed at 52.1% and 52.0% respectively. Concurrently, the non-performing loan ratio stabilised at 0.2%.