According to statistics released today by the Monetary Authority of Macao, money supply continued to grow in January 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 2.7% and 8.6% respectively. M1 thus increased 7.4% from one month earlier. Meanwhile, quasi-monetary liabilities also rose 1.9%. The sum of these two items, i.e. M2, increased 2.6% to MOP606.9 billion. On an annual basis, M1 and M2 grew 19.5% and 13.1% respectively. The shares of pataca (MOP), Hong Kong dollar (HKD), renminbi (RMB) and United States dollar (USD) in M2 were 31.1%, 54.1%, 4.1% and 8.9% respectively.
Deposits
Resident deposits grew 2.6% from the preceding month to MOP591.6 billion while non-resident deposits also rose 1.3% to MOP257.5 billion. On the other hand, public sector deposits with the banking sector decreased 0.4% to MOP191.0 billion. As a result, total deposits in the banking sector grew 1.7% from a month earlier to MOP1,040.1 billion. The shares of MOP, HKD, RMB and USD in total deposits were 20.4%, 51.3%, 3.9% and 21.7% respectively.
Loans
Domestic loans to the private sector edged up 0.1% from a month ago to MOP458.7 billion. Among which, MOP140.4 billion was MOP-denominated, MOP296.6 billion was denominated in HKD, MOP0.3 billion was denominated in RMB and MOP18.3 billion was denominated in USD, representing 30.6%, 64.7%, 0.1% and 4.0% of the total respectively. In the meantime, external loans grew 1.8% to MOP445.7 billion; of which, loans denominated in MOP, HKD, RMB and USD accounted for 2.0% (MOP9.0 billion), 32.8% (MOP146.0 billion), 9.1% (MOP40.6 billion) and 49.3% (MOP219.6 billion) respectively.
Operating ratios
At end-January, the loan-to-deposit ratio for the resident sector dropped from 59.7% at end-December 2017 to 58.6%. Meanwhile, the ratio for both the resident and non-resident sectors also fell from 87.6% to 87.0%. Both the one-month and three-month current assets to liabilities ratios stayed at relatively high levels of 53.4% and 55.3% respectively. Concurrently, the non-performing loan ratio remained virtually stable at 0.2%.