According to statistics released today by the Monetary Authority of Macao, money supply rebounded in May with a stable share of patacas.  On the other hand, both resident deposits and loans grew from a month earlier.

Money supply

Currency in circulation dropped 0.9% whereas demand deposits grew 0.7%. M1 thus increased 0.4% from one month earlier.  Meanwhile, quasi-monetary liabilities rose 2.1%.  The sum of these two items, i.e. M2, increased 1.9% to MOP553.8 billion. On an annual basis, M1 and M2 grew 14.2% and 16.6% respectively.  The shares of pataca (MOP), Hong Kong dollar (HKD), renminbi (RMB) and United States dollar (USD) in M2 were 31.3%, 52.9%, 3.9% and 9.8% respectively.

Deposits

Resident deposits rose 2.0% from the preceding month to MOP539.8 billion while non-resident deposits also grew 0.9% to MOP263.1 billion.  At the same time, public sector deposits with the banking sector increased 0.9% to MOP185.6 billion.  As a result, total deposits with the banking sector grew 1.5% from a month earlier to MOP988.5 billion. The shares of MOP, HKD, RMB and USD in total deposits were 20.7%, 51.9%, 3.6% and 21.6% respectively.

Loans

Domestic loans to the private sector increased 0.6% from a month ago to MOP424.8 billion. Among which, MOP127.3 billion was MOP-denominated, MOP274.4 billion was denominated in HKD, MOP1.7 billion was denominated in RMB and MOP18.7 billion was denominated in USD, representing 30.0%, 64.6%, 0.4% and 4.4% of the total respectively.  External loans rose 3.9% to MOP417.4 billion; of which, loans denominated in MOP, HKD, RMB and USD accounted for 1.7% (MOP7.3 billion), 27.6% (MOP115.3 billion), 10.4% (MOP43.5 billion) and 52.8% (MOP220.5 billion)  respectively.

Operating ratios

At end-May, the loan-to-deposit ratio for the resident sector fell from 59.2% at end-April to 58.6%.  However, the ratio for both the resident and non-resident sectors grew from 84.6% to 85.2%. Both the one-month and three-month current assets to liabilities ratios stayed at a relatively high level of 54.0%.  Concurrently, the non-performing loan ratio remained virtually stable at 0.2%.