Bank mortgage lending falls in February

New approvals of residential mortgage loans (RMLs) and commercial real estate loans (CRELs) both declined month-on-month in February, according to statistics released by the Monetary Authority of Macao. Outstanding balances for both loan types also recorded monthly decreases. New RMLs approved by Macao banks fell 58.3% month-on-month to MOP661.18 million. Loans to residents accounted for 99.8% of the total, while non-resident lending dropped to MOP1.03 million. New CRELs decreased 12.7% to MOP489.53 million, all of which were issued to residents.