The new approvals of residential mortgage loans (RMLs) and commercial real estate loans (CRELs) by Macao banks both decreased in April 2020, the special administrative region’s monetary watchdog said on Thursday.
According to the statistics released by the Monetary Authority of Macao (AMCM), the new RMLs approved by Macao banks dropped by 35.1 per cent month-to-month to MOP 2.01 billion (US$252.04 million). The new RMLs to residents, representing 99.7 per cent of the total, fell by 34.7 per cent.
The monthly average of new RMLs approved between February and April 2020 was MOP 2.20 billion (US$275.86 million), down by 13.1 per cent from the previous period from January to March 2020.
The new CRELs dropped by 56.5 per cent month-to-month to MOP 2.39 billion (US$299.69 million). The new CRELs to residents, which occupied 99.0 per cent of the total, decreased by 49.0 per cent.
The monthly average of new CRELs approved between February and April 2020 was MOP 3.80 billion (US$476.49 million), down by 0.5 per cent as compared with the previous period from January to March 2020.
At the end of April 2020, the outstanding value of RMLs was MOP 231.40 billion (US$29.02 billion dollars), which remained almost unchanged from the preceding month but up by 5.4 per cent from a year ago.
The outstanding value of CRELs was MOP 181.70 billion (US$22.78 billion), which grew by 0.3 per cent from a month earlier but fell by 7.5 per cent from a year ago.
At the end of April 2020, the delinquency ratio for RMLs stood at 0.26 per cent, up by 0.01 percentage point from the preceding month or 0.02 percentage points over a year earlier.
The ratio for CRELs was 0.46 per cent, up by 0.01 percentage point from a month ago or 0.22 percentage points from the end of April 2019.
(Xinhua News Agency/Macau News)
