According to statistics released today by the Monetary Authority of Macao, new approvals of residential mortgage loans (RMLs) grew in December 2013 whereas those of commercial real estate loans (CRELs) dropped. With regard to outstanding balance, RMLs and CRELs both witnessed increases.

New Lending Approved

In December 2013, new RMLs approved by Macao banks grew 1.2% month-to-month to MOP3.0 billion; of which, 99.1% was extended to residents. In terms of value, new RMLs to residents increased 4.2% whereas the loans to non-residents declined 75.8%. When compared with the same period of 2012, new approvals of RMLs witnessed increase of 14.5%.

New RMLs collateralised by uncompleted units (i.e. equitable mortgage) increased by 12.3% month-to-month to MOP141.8 million. When compared with the same period of 2012, this type of bank mortgage expanded 57.9%.

New CRELs dropped 27.8% month-to-month to MOP2.3 billion; of which, 98.3% was granted to residents. In terms of value, new CRELs to residents declined 28.3% whereas the loans to non-residents witnessed an increase of 16.8%. On an annual basis, new approvals of CRELs edged down 0.7%.

Outstanding Balances

As at end-December 2013, the outstanding value of RMLs reached MOP118.3 billion, an increase of 1.3% from one month earlier or 22.3% from a year ago. The resident component made up 94.8% of the total. Compared to end-November 2013, outstanding RMLs to residents grew 1.5% whereas those to non-residents slid 1.2%.

Concurrently, the outstanding value of CRELs increased 1.1% from end-November 2013 and was up 23.8% from end-December 2012 to MOP85.3 billion. Residents accounted for 93.2% of the loans. Compared with one month earlier, outstanding CRELs to residents grew 1.5% whereas those to non-residents dropped 4.3%.

Delinquency Ratios

At the end of December 2013, the delinquency ratio for RMLs, at 0.06%, went up slightly from one month earlier and from a year ago. The ratio for CRELs edged down from end-November 2013 or slid 0.14 percentage points from end-December 2012 to 0.03%.

For enquiry, please contact:

Research and Statistics Department

Monetary Authority of Macao

(Tel：83952532; Fax：28353042)