According to statistics released today by the Monetary Authority of Macao, new approvals of residential mortgage loans (RMLs) and commercial real estate loans (CRELs) both increased in June 2021. With regard to the outstanding balances, both RMLs and CRELs witnessed increases.
New lending approved
In June 2021, new RMLs approved by Macao banks expanded by 26.8% month-to-month to MOP3.85 billion. Of which, new RMLs to residents, representing 94.4% of the total, grew by 21.3% to MOP3.64 billion; the non-resident component also increased to MOP216.9 million. The monthly average of new RMLs approved between April and June 2021 was MOP3.1 billion, up by 10.7% from the previous period (March to May 2021).
New RMLs collateralised by uncompleted units (i.e. equitable mortgage) increased month-to-month by 73.8% to MOP292.6 million. On an annual basis, new equitable mortgage approved rose by 7.0%.
New CRELs advanced by 119.1% month-to-month to MOP7.91 billion. Within this total, new CRELs to residents increased by 123.6% to MOP7.91 billion; new CRELs to non-residents dropped to MOP1.0 million. The monthly average of new CRELs approved between April and June 2021 was MOP5.6 billion, up by 55.0% as compared with the previous period (March to May 2021).
Outstanding balances
As at end-June 2021, the outstanding value of RMLs was MOP236.8 billion, which grew by 0.7% month-to-month or 1.9% from a year ago. Of which, the resident component made up 94.8% of the loans. When compared with the previous month, outstanding RMLs to residents and non-residents rose by 0.7% and 1.6% respectively.
The outstanding value of CRELs was MOP161.3 billion, which advanced by 1.2% from the previous month but dropped by 10.3% from a year earlier. Residents accounted for 93.2% of the loans. Compared with a month earlier, outstanding CRELs to residents increased by 1.3% whereas those to non-residents fell by 0.6%.
Delinquency ratios
At the end of June 2021, the delinquency ratio for RMLs stood at 0.24%, virtually unchanged from a month ago but down by 0.02 percentage points over a year earlier. The ratio for CRELs remained at 0.50% but rose by 0.06 percentage points from end-June 2020.
