Macau’s banking sector sees increase in international assets

17 August 2017

Macau’s banking sector total international assets totalled 1.221 billion patacas (US$151.8 billion) at the end of the first half, or year-on-year growth of 4.5%, according to the Macau Monetary Authority (AMCM).

AMCM reported growth of 3.4%, or 892.0 billion patacas, in foreign funds and 7.6%, or 328.5 billion patacas, in local assets in foreign currencies.

The international responsibilities of the banking sector were 1.142 billion patacas (US$142.1 billion), an increase of 3.2% over the same period of last year.

Foreign liabilities decreased by 10.0% to 546.2 billion patacas and domestic liabilities in foreign currencies increased 19.3% year-on-year to 596.1 billion patacas, the AMCM said.

Foreign currency deposits of residents and the Government of the Macau Special Administrative Region in local banks continued to account for the largest component of total international liabilities, increasing by 19.2% to 531.3 billion patacas at the end of June 2017, compared to 445.6 billion patacas a year earlier.

The statement released by AMCM also reported that Macau’s international banking business was mainly spread across Asia and Europe, and at the end of the period the resources of the Macau banking system in Hong Kong and China stood at 36.6% and 27.5% and 2.1% and 2.0%, respectively, in the United Kingdom and Portugal. (macauhub)

MACAUHUB FRENCH