According to statistics released today by the Monetary Authority of Macao, money supply continued to grow in January. As total deposits increased whereas total loans decreased, the overall loan-to-deposit ratio of the banking sector dropped from a month earlier. Money supply Currency in circulation and demand deposits grew 8.8% and 3.5% respectively. M1 thus increased 4.5% from one month earlier. Concurrently, quasi-monetary liabilities dropped 0.4%. The sum of these two items, i.e. M2, increased 0.2% to MOP473.8 billion. On an annual basis, M1 grew 3.6% whereas M2 dropped 4.0%. The share of Pataca (MOP) in M2 stood at 30.7%, up 0.8 percentage points from a month ago or 3.9 percentage points from a year earlier. The share of Hong Kong Dollar (HKD) in M2 was 51.2%, down 0.3 percentage points month-to-month but up 0.6 percentage points year-on-year. The share of Chinese Yuan (CNY) was 6.4%, down 0.4 percentage points month-to-month or 6.3 percentage points year-on-year. The share of United States Dollar (USD) was 9.5%, down 0.2 percentage points month-to-month but up 1.6 percentage points year-on-year. Deposits Resident deposits kept virtually stable from the preceding month at MOP460.7 billion. Of which, MOP and other foreign currency deposits increased at respective rates of 2.2% and 2.8%. HKD, CNY and USD deposits decreased 0.3%, 5.1% and 1.6% respectively. Non-resident deposits rose 6.7% to MOP286.1 billion. Public sector deposits with the banking sector decreased 0.9% to MOP130.0 billion. As a result, total deposits with the banking sector grew 2.0% from a month earlier to MOP876.8 billion. The shares of MOP, HKD, CNY and USD in total deposits were 20.8%, 43.4%, 8.7% and 24.0% respectively. Loans Domestic loans to the private sector kept virtually stable from a month ago at MOP389.3 billion. Among which, MOP108.6 billion was MOP-denominated, MOP258.7 billion was denominated in HKD, MOP2.1 billion was denominated in CNY and MOP16.2 billion was denominated in USD, representing 27.9%, 66.5%, 0.5% and 4.2% of the total respectively. On the other hand, external loans dropped 1.9% to MOP364.5 billion; of which, loans denominated in MOP, HKD, CNY and USD accounted for 1.6% (MOP5.8 billion), 26.0% (MOP94.7 billion), 18.8% (MOP68.4 billion) and 48.0% (MOP175.1 billion) respectively. Operating ratios At end-January, the loan-to-deposit ratio for the resident sector grew 0.2 percentage points from the previous month to 65.9%. The ratio for both the resident and non-resident sectors dropped 2.5 percentage points to 86.0%. The one-month and three-month current assets to liabilities ratios stayed at relatively high levels, marked at 66.3% and 59.8% respectively. The non-performing loan ratio, an indicator for bank asset quality, was 0.1%, virtually unchanged from one month earlier and one year ago.
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