Intl assets in Macao's banking sector increase

MACAO -- Proportion of international business in the local banking sector of Macao increased in the second quarter of 2013, according to figures released on Tuesday by the city's Monetary Authority.

The share of international assets in total banking assets rose to 84.8 percent from 84.2 percent at the end of March, according to the data.

Foreign currencies remained as the dominant denomination in international banking transactions, as Hong Kong dollar (HKD) and other foreign currencies (OFCs) accounted for 35.5 percent and 64. 1 percent of total international assets at the end of June as well as 46.9 percent and 50.0 percent of total international liabilities respectively.

Total international assets increased by 6.1 percent from a quarter earlier or 25.5 percent year-on-year to 766.4 billion patacas ($95.9 billion), of which external assets expanded by 29 percent year-on-year to 602.8 billion patacas ($75. 47 billion) and local assets in foreign currencies increased by 14 percent to 163.6 billion patacas ($20.48 billion), according to the figures.

As major components of international assets, external loans and deposits in Macao's banking sector advanced by 28.4 percent year- on-year to 561 billion patacas ($70.24 billion), the Monetary Authority said.