Residents’ deposits grow slightly in July, non-residents’ drop 11.8%

Deposits held by local residents in July registered a slight 0.2% increase year-on-year, the Monetary Authority of Macao (AMCM) noted in a monetary and financial statistics release. The total amount of residents’ deposits reached MOP660.9 billion in July this year.

Concurrently, deposits from non-residents registered a significant drop (-11.8%) over the same period, down to MOP327.2 billion.

Public sector deposits with banking corporations also dropped in July, down 0.7% to a total of MOP260.5 billion.

As a result, the monetary deposits in the banking sector decreased by 3.4% year-on-year to MOP1,248.6 billion.

The Hong Kong dollar continues to be the currency with the largest market share (48.2%), with the USD in second place with 21.5% followed by the pataca with 20.1%. The renminbi remained in last place, with a market share of just 7.8%.

Domestic loans to the private sector dropped by 0.4% when compared month-on-month with June, totaling MOP562.4 billion. In the same period, external loans fell 3.6% to MOP762.8 billion, leading total loans to the private sector (MOP1,325.2 billion) which were down by 2.3% when compared with the previous month.

As for broad monetary supply, currency in circulation increased by 1.3% while demand deposits dropped by 3.6%.

At the end of July, the loan-to-deposit ratio for the resident sector decreased from 61.3%, at the end of June, to 61.0%. On the other hand, the ratio for both the resident and non-resident sectors increased from 104.9% to 106.1%.

The one-month and three-month current assets-to-liabilities ratios stood at 64.8% and 56.2% respectively.

At the same time, the non-performing loan ratio increased from 0.79% at the end of June to 0.86% at the end of July.