Macau banking sector has positive external asset position

18 August 2016

The international assets of the Macau banking sector reached 1.167 trillion patacas (US$146.1 billion) at the end of the second quarter of 2016, according to the Macau Monetary Authority (AMCM).

That amount was an increase of 3.5% over the first quarter of the year and a marginal decrease of 0.8% over the previous year, according to the statement released.

The international responsibilities of the banking sector amounted to 1.1065 trillion patacas (US$138.5 billion), an increase of 3.8% over the previous quarter and a contraction of 2.0% over the amount recorded a year earlier.

Deposits in foreign currency of residents and the government of the Macau SAR in local banks continued to represent the largest component of total international liabilities, and these deposits fell 0.3% to 445.6 billion patacas at the end of June 2016.

Macau’s International banking activity was distributed mainly across Asia, America and Europe, and cash quotas on Hong Kong and mainland China at the end of the second quarter were 37.7% and 22.5% and 52.5% and 18.1% for liabilities. (macauhub/MO)