According to statistics released today by the Monetary Authority of Macao, broad money supply continued to grow in May. As total loans increased at a faster pace than total deposits, the overall loan-to-deposit ratio of the banking sector rose from a month earlier.
Money supply
Currency in circulation and demand deposits grew 0.9% and 5.0% respectively. M1 thus increased 4.3% from one month earlier. Concurrently, quasi-monetary liabilities grew 1.6%. The sum of these two items, i.e. M2, increased 1.9% to MOP473.8 billion. On an annual basis, M1 dropped 1.1% whereas M2 rose 16.3%. The share of Pataca (MOP) in M2 stood at 23.9%, down 0.4 percentage points from a month ago or 0.1 percentage point from a year earlier. The share of Hong Kong Dollar (HKD) in M2 was 49.2%, virtually unchanged from the previous month but down 5.9 percentage points year-on-year.
Deposits
Resident deposits increased 1.9% from the preceding month to MOP464.2 billion. Of which, MOP deposits, HKD deposits and other foreign currency deposits increased at respective rates of 0.2%, 1.9% and 3.5%. Non-resident deposits rose 3.1% to MOP208.9 billion. Public sector deposits with the banking sector also increased 1.8% to MOP87.6 billion. As a result, total deposits with the banking sector grew 2.2% from a month earlier to MOP760.6 billion. The shares of MOP and HKD in total deposits were 18.3% and 39.9% respectively.
Loans
Domestic loans to the private sector increased 2.5% from a month ago to MOP299.5 billion. Among which, MOP84.8 billion was MOP-denominated and MOP189.8 billion was denominated in HKD, representing 28.3% and 63.4% of the total respectively. On the other hand, external loans rose 3.5% to MOP317.0 billion; of which, loans denominated in MOP and HKD accounted for 1.7% (MOP5.4 billion) and 21.8% (MOP69.2 billion) respectively.
Loan-to-deposit ratios
The loan-to-deposit ratio for the resident sector at end-May rose 0.3 percentage points from the previous month to 54.3%. The ratio for both the resident and non-resident sectors also grew by 0.6 percentage points to 81.1%.
Detailed Monetary and Financial Statistics are available in the latest issue of Monthly Bulletin of Monetary Statistics on AMCM Internet Website. (http://www.amcm.gov.mo/publication/Publication.htm)
