Mortgage Loans Statistics, February 2013

According to statistics released today by the Monetary Authority of Macao, new approvals of residential mortgage loans (RMLs) declined whereas those of commercial real estate loans (CRELs) grew in February 2013. With regard to outstanding balance, RMLs and CRELs both witnessed increases. New Lending Approved In February 2013, new RMLs approved by Macao banks dropped 31.3% month-to-month to MOP2.0 billion; of which, 96.1% was extended to residents. In terms of value, new RMLs to residents and non-residents decreased 31.9% and 15.2% respectively. When compared with the same period of 2012, new approvals of RMLs witnessed growth of 29.0%. New RMLs collateralised by uncompleted units (i.e. equitable mortgage) dropped 30.1% month-to-month to MOP80.8 million. The equitable mortgage extended to residents, which accounted for 95.5% of the total, decreased 27.9% while the amount to non-residents also went down by 57.7%. When compared with the same period of 2012, this type of bank mortgage expanded significantly by 167.8% New CRELs rose 96.2% month-to-month to MOP7.4 billion; of which, 95.9% was granted to residents. In terms of value, new CRELs to residents increased markedly by 124.7% whereas the amount to non-residents declined 50.7%. On an annual basis, new approvals of CRELs expanded significantly by 599.2%. Outstanding Balances As at end-February 2013, the outstanding value of RMLs reached MOP99.0 billion, an increase of 0.8% from one month earlier or 28.8% from a year ago. The resident component made up 93.1% of the total. Compared to end-January 2013, outstanding RMLs to residents grew 0.9% whereas the amount to non-residents dropped 0.7%. Concurrently, the outstanding value of CRELs went up by 3.2% from end-January 2013 or 17.6% from end-February 2012 to MOP72.9 billion. Residents accounted for 91.3% of the loans. Compared with one month earlier, outstanding CRELs to residents and non-residents grew 3.5% and 0.5% respectively. Delinquency Ratios At the end of February 2013, the delinquency ratio for RMLs stood at 0.06%, which was largely unchanged from one month earlier but down 0.02 percentage points from a year ago. The ratio for CRELs went down 0.01 percentage point from end-January 2013 but up 0.07 percentage points from end-February 2012 to 0.16%.