Residents’ deposits drop by 1.2 pct

Residents’ deposits decreased 1.2 percent month-on-month in November to MOP473.6 billion.  Of these deposits, MOP deposits increased 0.1 percent while deposits of HKD and other foreign currencies decreased by 0.5 percent and 3.6 percent respectively. Non-residents’ deposits have also decreased by 2.5 percent to MOP228.1 billion. Statistics released by the Monetary Authority of Macau show that public sector deposits with the banking sector increased 2 percent to MOP90.9 billion. As a result, total deposits with the banking sector dropped 1.2 percent from a month earlier, to MOP792.5 billion. Domestic loans to the private sector increased by 0.1 percent from a month ago to MOP331.6 billion. External loans remained virtually unchanged at MOP348.4 billion, of which loans denominated in MOP and HKD accounted for 1.2 percent (MOP4.3 billion) and 23 percent (MOP80.2 billion) respectively. Currency in circulation grew 3.3 percent whereas demand deposits dropped 7.7 percent.