According to statistics released today by the Monetary Authority of Macao, broad money supply continued to grow in February with a relatively stable share of patacas. On the other hand, resident deposits and loans rose from a month ago.
Money supply
Currency in circulation dropped 6.7% whereas demand deposits rose 13.2%. M1 thus increased 8.5% from one month earlier. On the other hand, quasi-monetary liabilities decreased 0.3%. The sum of these two items, i.e. M2, increased 0.7% to MOP540.7 billion. On an annual basis, M1 and M2 grew 12.8% and 15.2% respectively. The shares of pataca (MOP), Hong Kong dollar (HKD), renminbi (RMB) and United States dollar (USD) in M2 were 31.7%, 52.1%, 4.0% and 10.1% respectively.
Deposits
Resident deposits increased 0.9% from the preceding month to MOP526.4 billion while non-resident deposits grew 2.5% to MOP255.4 billion. On the other hand, public sector deposits with the banking sector also increased 5.8% to MOP180.5 billion. As a result, total deposits with the banking sector increased 2.2% from a month earlier to MOP962.2 billion. The shares of MOP, HKD, RMB and USD in total deposits were 21.6%, 47.6%, 3.9% and 24.0% respectively.
Loans
Domestic loans to the private sector increased 0.6% from a month ago to MOP418.0 billion. Among which, MOP124.1 billion was MOP-denominated, MOP271.6 billion was denominated in HKD, MOP2.4 billion was denominated in RMB and MOP18.0 billion was denominated in USD, representing 29.7%, 65.0%, 0.6% and 4.3% of the total respectively. External loans rose 2.2% to MOP381.2 billion; of which, loans denominated in MOP, HKD, RMB and USD accounted for 1.8% (MOP7.0 billion), 26.4% (MOP100.6 billion), 10.6% (MOP40.5 billion) and 54.9% (MOP209.4 billion) respectively.
Operating ratios
At end-February, the loan-to-deposit ratio for the resident sector dropped 0.9 percentage points from the previous month to 59.1%. The ratio for both the resident and non-resident sectors also fell 0.7 percentage points to 83.1%. The one-month and three-month current assets to liabilities ratios stayed at relatively high levels of 48.8% and 53.6% respectively. In addition, the non-performing loan ratio was unchanged from one month earlier but up slightly by 0.1 percentage point from one year ago, at 0.2%.