According to statistics released today by the Monetary Authority of Macao, money supply retreated in April while the share of patacas remained stable.  On the other hand, resident deposits dropped from a month earlier whereas loans to residents posted an increase.

Money supply

Currency in circulation grew 0.7% whereas demand deposits dropped 3.4%. M1 thus decreased 2.6% from one month earlier.  Meanwhile, quasi-monetary liabilities fell 0.4%.  The sum of these two items, i.e. M2, decreased 0.7% to MOP543.5 billion. On an annual basis, M1 and M2 grew 17.2% and 15.5% respectively.  The shares of pataca (MOP), Hong Kong dollar (HKD), renminbi (RMB) and United States dollar (USD) in M2 were 31.9%, 53.0%, 3.9% and 9.1% respectively.

Deposits

Resident deposits dropped 0.7% from the preceding month to MOP529.4 billion while non-resident deposits also fell 4.6% to MOP260.6 billion.  On the other hand, public sector deposits with the banking sector increased 0.2% to MOP183.9 billion.  As a result, total deposits with the banking sector dropped 1.6% from a month earlier to MOP973.9 billion. The shares of MOP, HKD, RMB and USD in total deposits were 21.1%, 50.5%, 3.6% and 22.6% respectively.

Loans

Domestic loans to the private sector increased 0.5% from a month ago to MOP422.3 billion. Among which, MOP126.0 billion was MOP-denominated, MOP274.1 billion was denominated in HKD, MOP1.6 billion was denominated in RMB and MOP18.0 billion was denominated in USD, representing 29.8%, 64.9%, 0.4% and 4.3% of the total respectively.  External loans rose 2.3% to MOP401.8 billion; of which, loans denominated in MOP, HKD, RMB and USD accounted for 1.8% (MOP7.0 billion), 27.1% (MOP108.9 billion), 10.9% (MOP44.0 billion) and 53.3% (MOP214.1 billion)  respectively.

Operating ratios

At end-April, the loan-to-deposit ratio for the resident sector rose from 58.6% at end-March to 59.2%.  The ratio for both the resident and non-resident sectors also grew from 82.1% to 84.6%. The one-month and three-month current assets to liabilities ratios stayed at relatively high levels of 53.6% and 54.4% respectively.  Concurrently, the non-performing loan ratio remained virtually stable at 0.2%.