Banks operating in Macau post record results in 2011

9 February 2012

Macau, China, 9 Feb – Banks operating in Macau in 2011 posted record results with profits of 4.6 billion patacas (US$575 million), which was a year-on-year rise of 31 percent, the president of the Macau Monetary Authority (AMCM) said Wednesday.

During the so-called Spring Lunch organised by the Association of Macau Banks at the local headquarters of the Bank of china, Anselmo Teng Lin Sen said that the record results achieved in 2011 were in terms of assets, deposits and loans, which saw significant increases year-on-year.

At the end of last year, Teng said, the banks operating in Macau saw their assets increase 21.8 percent to 660 billion patacas and deposits increase 22.3 percent to 400 billion patacas. Loans increased by 31 percent in the period.

Macau, which ahs a population of 560,000 people, currently has 28 banks, three of which are from Macau, nine are subsidiaries of foreign banks and 16 are branches of foreign banks. (macauhub)