According to statistics released today by the Monetary Authority of Macao, broad money supply held steady in May with a stable share of patacas. Meanwhile, resident deposits remained virtually unchanged from a month earlier while loans to residents posted an increase.
Money supply
Currency in circulation dropped 1.0% month-to-month whereas demand deposits rose 6.1%. M1 thus increased 4.7% from one month earlier. On the other hand, quasi-monetary liabilities fell 0.7%. The sum of these two items, i.e. M2, kept virtually stable at MOP610.2 billion. On an annual basis, M1 and M2 grew 16.8% and 10.2% respectively. The shares of pataca (MOP), Hong Kong dollar (HKD), renminbi (RMB) and United States dollar (USD) in M2 were 31.2%, 53.8%, 4.4% and 8.5% respectively.
Deposits
Resident deposits remained virtually unchanged from the preceding month at MOP594.7 billion whereas non-resident deposits grew 2.4% to MOP240.6 billion. Meanwhile, public sector deposits with the banking sector increased 1.3% to MOP199.7 billion. As a result, total deposits in the banking sector grew 0.8% from a month earlier to MOP1,035.0 billion. The shares of MOP, HKD, RMB and USD in total deposits were 20.3%, 51.4%, 4.2% and 20.8% respectively.
Loans
Domestic loans to the private sector grew 0.6% from a month ago to MOP474.3 billion. Among which, MOP142.3 billion was MOP-denominated, MOP309.5 billion was denominated in HKD, MOP0.4 billion was denominated in RMB and MOP19.3 billion was denominated in USD, representing 30.0%, 65.2%, 0.1% and 4.1% of the total respectively. In the meantime, external loans grew 2.7% to MOP480.0 billion; of which, loans denominated in MOP, HKD, RMB and USD accounted for 1.9% (MOP9.0 billion), 33.7% (MOP161.8 billion), 7.1% (MOP34.0 billion) and 51.0% (MOP244.6 billion) respectively.
Operating ratios
At end-May, the loan-to-deposit ratio for the resident sector edged up from 59.6% at end-April to 59.7%. Meanwhile, the ratio for both the resident and non-resident sectors also grew from 91.5% to 92.2%. Both the one-month and three-month current assets to liabilities ratios stayed at relatively high levels of 49.5% and 51.7% respectively. Concurrently, the non-performing loan ratio remained virtually stable at 0.2%.