Macao's new approved residential mortgage loans drop by 5.4 pct in October

Source: Xinhua| 2019-12-14 23:16:58|Editor: Mu Xuequan
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MACAO, Dec. 14 (Xinhua) -- The new approvals of residential mortgage loans (RMLs) by Macao banks dropped by 5.4 percent month-to-month to 3.5 billion patacas (about 435.9 million U.S. dollars) in October, the special administrative region's monetary watchdog said here on Saturday.

According to the latest report released by the Monetary Authority of Macao, new RMLs to residents, representing 97.1 percent of the total, decreased by 6.8 percent to 3.4 billion patacas (about 423.4 million dollars).

The non-resident component grew by 94.0 percent to 100.6 million patacas (about 12.5 million dollars), the report added.

The monthly average of new RMLs approved between August and October 2019 was 3.8 billion patacas (about 473.2 million dollars), down by 9.9 percent from the previous period from July to September 2019.

New commercial real estate loans (CRELs) by Macao banks rose by 122.4 percent month-to-month to 6.5 billion patacas (about 803.2 million dollars).

Within this total, new CRELs to residents, which occupied 99.7 percent of the total, surged by 147.0 percent to 6.4 billion patacas (about 800.7 million dollars) whereas those to non-residents dropped by 94.1 percent to 17.5 million patacas (about 2.2 million dollars).

The monthly average of new CRELs approved between August and October 2019 was 4.2 billion patacas (about 523.0 million dollars), up by 41.4 percent as compared with the previous period from July to September 2019.

At the end of October 2019, the outstanding value of RMLs was 229.1 billion patacas (about 28.5 billion dollars), which rose by 0.3 percent from a month earlier or 7.4 percent from a year ago.

The outstanding value of CRELs fell by 0.7 percent month-to-month or 4.5 percent from a year earlier to 182.0 billion patacas (about 22.7 billion dollars), attributable to the repayment of loans with large denomination.

At the end of October 2019, the delinquency ratio for RMLs stood at 0.24 percent, unchanged from a month ago but up by 0.06 percentage points over a year earlier.

The ratio for CRELs was 0.39 percent, up by 0.02 percentage points from a month ago or 0.23 percentage points from the end of October 2018.

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