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

New Lending Approved

In June 2013, new RMLs approved by Macao banks dropped 27.8% month-to-month to MOP3.0 billion; of which, 96.5% was extended to residents. In terms of value, new RMLs to residents and non-residents decreased 28.3% and 10.8% respectively. When compared with the same period of 2012, new approvals of RMLs witnessed decline of 25.7%.

New RMLs collateralised by uncompleted units (i.e. equitable mortgage) dropped significantly by 97.5% month-to-month to MOP9.3 million. When compared with the same period of 2012, this type of bank mortgage contracted by 93.6%

New CRELs rose 46.9% month-to-month to MOP3.9 billion; of which, 96.0% was granted to residents. In terms of value, new CRELs to residents increased 42.0% while the amount to non-residents expanded significantly by 763.2%. On an annual basis, new approvals of CRELs rose 76.1%.

Outstanding Balances

As at end-June 2013, the outstanding value of RMLs reached MOP106.4 billion, an increase of 1.8% from one month earlier or 27.3% from a year ago. The resident component made up 93.9% of the total. Compared to end-May 2013, outstanding RMLs to residents grew 2.1% whereas the amount to non-residents dropped 1.5%.

Concurrently, the outstanding value of CRELs went up by 2.0% from end-May 2013 or 23.0% from end-June 2012 to MOP78.4 billion. Residents accounted for 92.0% of the loans. Compared with one month earlier, outstanding CRELs to residents grew 2.2% whereas the amount to non-residents edged down by 0.1%.

Delinquency Ratios

At the end of June 2013, the delinquency ratio for RMLs stood at 0.06%, which increased slightly from one month earlier but down 0.01 percentage point from a year ago. The ratio for CRELs stayed flat from end-May 2013 but down by 0.02 percentage points from end-June 2012 to 0.08%.

For enquiry, please contact:

Research and Statistics Department

Monetary Authority of Macao

(Tel：83952532; Fax：28353042)