Macau’s banking sector ends 2012 with assets of US$98.7 billion and profit of US$712.5 million

27 February 2013

Macau’s retail banks ended 2012 with total assets of over 790 billion patacas, customer deposits of over 550 billion patacas and profit of over 5.7 billion patacas, the president of the Macau Monetary Authority said Tuesday in Macau.

Anselmo Tang also said that customer deposits had seen an annual increase of 21 percent and that loans offered by banks had risen by 26.2 percent to 407 billion patacas.

“The banking sector saw sustainable development, and never before have yearly results been so good and bank assets have continued to grow and their quality ahs been maintained,” Tang said.

However, Tang warned of potential risks, especially external ones, given that Macau’s economy, along with being small, may feel the effects of crises faced in other countries.

“The latest figures show that the international financial situation is showing clear signs of recovery, although there is still uncertainty,” said Tang, who added that the AMCM would continue to seek to maintain the stability and security of the system. (macauhub)