According to statistics released today by the Monetary Authority of Macao, broad money supply continued to fall in March with a stable share of patacas.  Meanwhile, resident deposits dropped from a month ago whereas loans to residents posted an increase.

Money supply

Currency in circulation and demand deposits fell 2.7% and 1.9% respectively. M1 thus decreased 2.1% from one month earlier.  Meanwhile, quasi-monetary liabilities dropped 1.1%.  The sum of these two items, i.e. M2, fell 1.2% to MOP679.3 billion.  On an annual basis, M1 dropped 2.3% whereas M2 grew 2.6%.  The shares of pataca (MOP), Hong Kong dollar (HKD), renminbi (RMB) and United States dollar (USD) in M2 were 31.8%, 46.1%, 7.3% and 12.8% respectively.

Deposits

Resident deposits went down by 1.2% from the preceding month to MOP661.4 billion whereas non-resident deposits rose 1.2% to MOP267.4 billion. Meanwhile, public sector deposits with the banking sector increased 0.7% to MOP256.4 billion.  As a result, total deposits in the banking sector dropped 0.3% from a month earlier to MOP1,185.2 billion.  The shares of MOP, HKD, RMB and USD in total deposits were 18.8%, 46.6%, 6.2% and 25.5% respectively.

Loans

Domestic loans to the private sector rose 1.5% from a month ago to MOP534.0 billion. Analysed by economic sector, “transport, warehouse and communications” and “wholesale and retail trade” increased at respective rates of 15.9% and 7.9% compared with a quarter ago, whereas “information technology” and “electricity, gas and water” dropped 21.6% and 4.6% respectively. Meanwhile, external loans grew 7.3% to MOP607.8 billion. As a result, total loans to the private sector went up by 4.5% from a month earlier to MOP1,141.8 billion.  The shares of MOP, HKD, RMB and USD in total loans were 16.9%, 46.5%, 7.1% and 26.8% respectively.

Operating ratios

At end-March, the loan-to-deposit ratio for the resident sector rose from 56.9% at end-February to 58.2%.   Meanwhile, the ratio for both the resident and non-resident sectors grew from 91.9% to 96.3%.  The one-month and three-month current assets to liabilities ratios stood at 55.9% and 53.0% respectively.  Concurrently, the non-performing loan ratio stabilised at 0.3%.