According to statistics released today by the Monetary Authority of Macao, new approvals of residential mortgage loans (RMLs) rose whereas commercial real estate loans (CRELs) dropped in the first quarter of 2012. With regard to outstanding balance, RMLs rose while CRELs witnessed decrease.

New Lending Approved

For the first quarter of 2012, new RMLs approved by Macao banks rose 22.0% quarter-to-quarter to MOP5.7 billion; of which, 93.9% was extended to residents. In terms of approved value, new RMLs to residents grew 26.0% whereas those to non-residents dropped 17.9%. When compared with the same period of 2011, new approvals of RMLs dropped by 33.2%.

New RMLs collateralised by uncompleted units (i.e. equitable mortgage) dropped 4.8% quarter-to-quarter to MOP118 million; of which 77.1% was extended to residents. The equitable mortgage to residents dropped 26.6%. When compared with the same period of 2011, equitable mortgage contracted by 92.4%.

After registering decrease in the previous quarter, new CRELs approved further declined by 45.8% quarter-to-quarter to MOP5.7 billion; of which, 75.6% was granted to residents. In terms of approved value, new CRELs to residents contracted 56.2% whereas those to non-residents rose 103.8%. On an annual basis, new approvals of CRELs dropped 8.6%.

Outstanding Balances

As at end-March 2012, the outstanding value of RMLs reached MOP77.9 billion, an increase of 2.2% from three months earlier or 19.4% from a year ago. The resident component made up 92.3% of the total. Outstanding RMLs to residents grew by 2.7% when compared with three months earlier while those to non-residents dropped 3.3%.

Concurrently, the outstanding value of CRELs dropped 2.6% from end-December 2011 but rose 20.2% from end-March 2011 to MOP61.1 billion. Residents accounted for 90.6% of the loans. Compared with three months earlier, outstanding CRELs to residents dropped 3.0% whereas those to non-residents rose 1.9%.

Delinquency Ratios

At the end of March 2012, the delinquency ratio for RMLs stood at 0.08%, down 0.01 percentage point from three months earlier and a year ago. The ratio for CRELs went down 0.01 percentage point from end-December 2011 or 0.32 percentage points from end-March 2011, to 0.09%.

For enquiry, please contact:

Research and Statistics Department

Monetary Authority of Macao

(Tel：83952532; Fax：28353042)