According to statistics released today (5 March) by the Monetary Authority of Macao, broad money supply rebounded in January.  Meanwhile, resident deposits rose from a month ago whereas loans to residents posted a decline.

Money supply

Currency in circulation and demand deposits rose 3.1% and 2.7% respectively.  M1 thus increased 2.8% from one month earlier.  Meanwhile, quasi-monetary liabilities grew 1.6%.  The sum of these two items, i.e. M2, rebounded 1.7% to MOP738.9 billion.   On an annual basis, M1 dropped 4.2% whereas M2 rose 2.0%.  The shares of pataca (MOP), Hong Kong dollar (HKD), renminbi (RMB) and United States dollar (USD) in M2 were 34.4%, 45.2%, 7.7% and 11.0% respectively.

Deposits

Resident deposits grew 1.5% from the preceding month to MOP717.2 billion while non-resident deposits edged up to MOP323.8 billion.  On the other hand, public sector deposits with the banking sector fell 1.9% to MOP189.8 billion.  As a result, total deposits in the banking sector rose 0.6% from a month earlier to MOP1,230.7 billion.  The shares of MOP, HKD, RMB and USD in total deposits were 20.5%, 44.3%, 8.5% and 24.5% respectively.

Loans

Domestic loans to the private sector fell 0.4% from a month ago to MOP536.0 billion.    Meanwhile, external loans dropped 0.5% to MOP552.1 billion.  As a result, total loans to the private sector went down by 0.5% from a month earlier to MOP1,088.0 billion.  The shares of MOP, HKD, RMB and USD in total loans were 20.4%, 46.3%, 11.1% and 19.2% respectively.

Operating ratios

At end-January, the loan-to-deposit ratio for the resident sector decreased from 59.8% at end-2023 to 59.1%.  Meanwhile, the ratio for both the resident and non-resident sectors decreased from 89.4% to 88.4%.  The one-month and three-month current assets to liabilities ratios stood at 64.0% and 58.7% respectively.  Concurrently, the non-performing loan ratio increased from 3.8% at end-2023 to 3.9%.