International business in banking sector improves slightly

International banking statistics released yesterday by the Monetary Authority of Macao show that the proportion of international business in the local banking sector recovered slightly in the second quarter of 2016.
At end-June, the share of international assets in total banking assets saw a minimal growth to 84.9 percent from 84.6 percent at end-March, while the share of international liabilities in total banking liabilities slightly expanded to 80.4 percent from 80 percent.
The total international banking assets for the second quarter grew by 3.5 percent from the previous quarter, but dropped 0.8 percent from a year earlier to MOP1167.7 billion.
External assets declined by 2.5 percent year-on-year to MOP862.5 billion while local assets in foreign currencies increased 4.3 percent to MOP305.2 billion. As a major component of international assets, external interbank loans decreased by 3.5 percent to MOP394.9 billion.
Total international banking liabilities grew 3.8 percent from three months ago but decreased by 2 percent year-on-year to MOP1,106.5 billion.
Of this total, external liabilities fell year-on-year by 5.9 percent to MOP606.8 billion whereas local liabilities in foreign currencies grew by 3.2 percent to MOP499.7 billion
The majority of external assets and liabilities were related to Asia, America and Europe. At end-June 2016, claims on Hong Kong and mainland China occupied 37.7 percent and 22.5 percent of total external assets,
Regarding external liabilities, Hong Kong and mainland China accounted for 52.5 percent and 18.1 percent of the total respectively.

Chasing VIPs

It’s a six-way contest in Macau a dozen years after the casino monopoly of SJM Holdings came to an end and the first Las Vegas operators were allowed in. Galaxy Entertainment Group Ltd. has taken the lead in terms of VIP revenue, though Wynn Macau Ltd. hopes to win market share after opening its most expensive casino yet on the booming Cotai Strip next week.