In 2015, local banks posted a growth in their assets amounting to MOP1,341 billion (US$168 billion), a 14. 2 per cent increase compared to a year ago, said President of the Monetary Authority of Macau (AMCM) Anselmo Teng Lin Seng at the Spring luncheon held by the Macau Association of Banks yesterday. However, according to official data, the growth rate was slower than the 19 per cent increase of 2014. Official data also indicates that savings held by banks last year amounted to MOP860 billion with an increase of 8.7 per cent in 2015, but a decrease when compared to the 16 per cent growth of 2014. The value of loans issued amounted to MOP760.7 billion in 2015, an increase of 21.1 per cent; but a slower increase compared to the 29 per cent of 2014. Profits after tax amounted to MOP11.7 billion by the end of 2015 with a growth rate of 21.1 per cent, which, however, showed a slower increase compared to 26 per cent in 2014. Capability Macau’s banks have managed to achieve a well-maintained capital system, with sufficient assets and good liquidly for 2015, the president of AMCM said at the event yesterday. The banks’ non-performing loan ratio stood at 0.12 per cent at the end of 2015, which was the same as in 2014. The capital adequacy ratios of Macau’s banks also exceeded Basel III standards. The ratio stood at 15.1 per cent in 2015 when compared to the 14.23 per cent of 2014, which is higher than the standard 10.5 per cent to 13 per cent benchmark requirement. Basel III requirements are international and voluntary standards ensuring a bank has the capital adequacy ability to manage banking risk. Developing a ‘unique financial industry’ with special features has been one of the main goals of the MSAR administration, said Mr. Teng. In order to develop its financial platform, Mr. Teng encouraged the banking sector to take advantage of Macau being a tree port, and promote businesses such as financial leasing and wealth management.
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