Macau (MNA) – Both deposits and loans of local residents in the month of October grew, with total deposits increasing 1.2 per cent month-on-month to MOP1,011.5 billion and domestic loans increasing 1.8 per cent month-on-month, according to the latest information released by the Macao Monetary Authority (AMCM).
Deposits for non-residents, meanwhile, rose 0.6 per cent to MOP259.3 billion in October, while external loans dipped 0.5 per cent to MOP437.5 billion compared to the amount recorded in September.
In particular, for the deposits segment, public sector deposits with the banking sector fell 1.3 per cent to MOP185.8 billion. Growth appeared in resident deposits, up 2.4 per cent from the preceding month to MOP566.4 billion.
Official data from AMCM also reveals that the city’s currency in circulation in the month of October dropped 1.3 per cent month-on-month whilst demand deposits grew notably by 10.7 per cent. As a result, M1 increased by 8.1 per cent, while M2 (the sum of M1 and quasi-monetary liabilities) increased 2.3 per cent to MOP580.9 billion. A 2.3 per cent and 12.5 per cent growth was registered for M1 and M2, respectively, compared to the same month a year ago.
As at the end of October, the loan-to-deposit ratio for the resident sector increased 59.7 per cent month-on-month. However, the ratio for both resident and non-resident sectors dropped 0.5 percentage points to 87.6 per cent compared to a month ago. For non-performing loans, the ratio remained virtually stable at 0.3 per cent.
