Statistics | Loan approvals increased in March

Both new approvals of residential mortgage loans (RMLs) and commercial real estate loans (CRELs) increased simultaneously in March, according to new data released yesterday by the Monetary Authority of Macau. With regard to the outstanding balance, RMLs and CRELs both witnessed increases.
New RMLs rose by 31.4 percent month-to-month in March to a value of MOP3 billion, of which 93.5 percent was extended to residents. In terms of value, new RMLs to residents and non-residents grew by 33.7 percent and 5.3 percent, respectively. However, when compared with the same period in 2015, new approvals of RMLs fell by 39.9 percent.
New CRELs grew by 13.8 percent month-to-month, also to MOP3 billion, of which 97.7 percent was granted to residents. In terms of value, new CRELs to residents rose 26.4 percent whereas those to non-residents dropped 78 percent. On an annual basis, new approvals of CRELs fell by 68.7 percent.
At the end of March, the outstanding values of RMLs and CRELs stood at MOP174.8 billion and MOP167.3 billion, respectively.