Business / Markets

Proportion of intl assets in Macao's banking sector increases in Q3

(Xinhua) Updated: 2012-11-23 17:26

MACAO - The proportion of international business in the banking sector of Macao increased slightly in the third quarter of 2012, according to figures released on Friday by the city's Monetary Authority.

The share of international assets in total banking assets expanded to 83.7 percent from 83.3 percent at the end of June 2012, while the share of international liabilities in total banking liabilities grew marginally to 80.3 percent from 80.2 percent, the figures showed.

The figures indicated that foreign currencies remained as the dominant denomination in international banking transactions, as Hong Kong dollar and other foreign currencies accounted for 39.1 percent and 60.4 percent of total international assets at the end of September as well as 50.1 percent and 46.7 percent of total international liabilities respectively.

Total international assets increased by 5.2 percent from three months earlier or 19.5 percent year-on-year to 642.8 billion patacas ($80.5 billion), of which external assets expanded by 22.3 percent year-on-year to 493.8 billion patacas ($61. 8 billion) and local assets in foreign currencies increased by 10.9 percent to 149 billion patacas ($18.6 billion), according to the figures.

As major components of international assets, external loans and deposits in Macao's banking sector jumped by 21.1 percent year-on- year to 458.3 billion patacas ($57.4 billion), the Monetary Authority said.

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