Saving for a rainy day?

2014/9/8

From：Macau Business Daily

Macau banks are piling up more non-resident deposits. Much more. An increase of 45.4 percent in July Y-o-Y. Loans dropped 9 percent.

Non-residents’ deposits in Macau banks increased 45.4 percent to MOP225.95 billion at the end of July over that of a year ago. This is also a 6.7 percent increase from that of the month of June when deposits by non-residents totalled MOP211.79 billion.
Overall, resident deposits in July increased by 1.2 percent from June and 19.2 percent from July a year earlier for a total of MOP479.58 billion patacas.
The latest figures released Friday by the Monetary Authority of Macau show that there was an increase in the number of domestic loans applied for by the private sector. These totalled MOP317.63 billion in July, up by an overall 36.2 percent year-on-year; it is also a 2.5 percent increase from that of the previous month of MOP308.53 million. Of these domestic loans to the private sector, the majority at MOP199.15 billion were denominated in Hong Kong dollars, while MOP88.57 billion were in patacas. While the ‘other currencies’ in which domestic loans were granted to private companies accounted for only MOP29.91 billion of the total in July, it grew by 16.1 percent from that of a month ago, and 32.6 percent from that of a year earlier.
In addition, external loans increased by 26.3 percent in July to MOP336.58 billion. Of these, ‘other currency’ denominated loans accounted for the biggest share of the pie at MOP253.96 billion. Hong Kong dollar-denominated external loans accounted for MOP77.73 percent of the total, up 11 percent from the month of June and 33.2 percent from that of July 2013. Pataca-denominated external loans dropped 9.3 percent over that of the previous month to MOP4.89 billion. However, this figure represents a 65.2 percent increase from that of a year ago.
Meanwhile, deposits in the public sector increased in July by an overall 2.3 percent from June and 23.4 percent from July 2013. Public sector deposits totalled MOP304.34 billion in July. Of these, MOP215.43 billion were in the Monetary Authority of Macau, with MOP88.9 billion in banks here.
The loan-to-deposit ratio for the resident sector at the end of July rose 1.0 percentage points from that of the previous month to 55.9 percent, while the ratio for both the resident and non-resident sectors grew by 0.5 percentage points to 82.3 percent.

Copyright@Macau Business Daily