New loans on the rise, unpaid ones also growing

New approvals of both residential mortgage loans (RMLs) and commercial real estate loans (CRELs) have registered growth in June this year, statistics released by the Monetary Authority of Macao (AMCM) revealed.
The same communication also shows that the outstanding balances of both RMLs and CRELs also recorded an increase in June.
In June, new RMLs approved by local banks increased 26.8% month-to-month when compared with May to MOP3.85 billion.
Concurrently, the monthly average of new RMLs approved between April and June was MOP3.1 billion, up by 10.7% from the previous period (March to May).
The RMLs approved to residents (MOP3.64 billion) represented 94.4% of the total, a figure that also registered a growth of 21.3%, while those for non-residents stood at MOP216.9 million.
New CRELs registered an exponential growth of 119.1% month-to-month to MOP7.91 billion. The monthly average of new CRELs approved between April and June was MOP5.6 billion, up by 55% when compared with the previous period (March to May).
At the end of June this year, the outstanding value of RMLs was MOP236.8 billion, a sum that represents a growth of 0.7% month-to-month to May this year, and 1.9% when compared year-on-year with June 2020.
In this particular category, the outstanding balance component of loans to non-residents has recorded a higher growth percentage (1.6%) while those to residents grew by just 0.7%.
The outstanding value of CRELs was MOP161.3 billion, representing a 1.2% rise from the previous month, a significant drop of 10.3% year-on-year.
In the commercial sector, the trend was inverted, with the outstanding balances growing more (1.3%) to residents, while the loans non-residents fell by 0.6%.