Deposits with local banks slightly up in November

Total deposits with local banks registered an increase of 0.7 per cent month-on-month for the month of November, amounting to MOP930.8 billion (US$116.4 billion), according to the latest official data released yesterday by the Monetary Authority of Macau (AMCM).
In the month, deposits of local residents rose 0.6 per cent month-on-month to MOP506 billion whilst those of non-residents dropped by MOP2 billion to MOP264.7 billion from the amount registered in October 2016.
Public sector deposits with the banking sector, on the other hand, increased by 2 per cent month-on-month, amounting to MOP160.2 billion.
On a year-on-year comparison, residents’ deposits with local banks jumped 10.5 per cent whilst those of non-residents and the public sector fell 1.3 per cent and 11.4 per cent compared to the same month of 2015, respectively.
Of total deposits, the shares of Macau Pataca (MOP), Hong Kong Dollar (HKD), Renminbi (RMB) and U.S. Dollar (USD) accounted for 21.1 per cent, 47 per cent, 5 per cent and 24.1 per cent of the total, respectively.

Lending more
Meanwhile, local banks approved domestic loans worth MOP415 billion to the private sector in the month, a month-on-month increase of 0.3 per cent. Of the total, MOP123 billion was denominated in MOP, while some MOP269.3 billion was denominated in HKD, accounting for 29.6 per cent and 64.9 per cent, respectively.
External loans approved by local banks reached MOP371.3 billion in the month, down 0.5 per cent month-on-month. Of the total, 53 per cent were USD-denominated, at MOP196.7 billion, followed by those HKD-denominated, at MOP292 per cent or MOP108.4 billion.
As at the end of the month, the loan-to-deposit ratio for the residential sector saw a decrease of 0.4 percentage points month-on-month to 62.3 per cent.

Money supply up
On the other hand, the city’s currency in circulation increased by 0.3 per cent month-to-month, while demand deposits decreased by 4.4 per cent, resulting in the money supply (M1) falling 3.5 per cent month-on-month.
As quasi-monetary liabilities rose by 1.3 per cent month-on-month, M2, the sum of the item and M1, saw a slight increase of 0.6 per cent month-to-month, reaching MOP519.4 billion.
On a year-on-year comparison, M1 and M2 went up by 11.8 per cent and 10.6 per cent, respectively. In November, the shares of MOP, HKD, RMB and USD in M2 were 30.8 per cent, 53.8 per cent, 4.4 per cent and 8.7 per cent, respectively.