Macao banking sector's int'l assets ratio high in Q1

MACAO - Proportion of international business in the local banking sector of Macao remained high in the first quarter of 2012, with the share of international assets in total banking assets remaining virtually unchanged from the end of 2011 at 84.7 percent, according to figures released on Wednesday the city's Monetary Authority.

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 39.9 percent and 59.7 percent of total international assets at the end of March as well as 44.6 percent and 53.9 percent of total international liabilities respectively.

Total international assets increased by 7.3 percent from three months earlier or 18.3 percent year-on-year to 598.1 billion patacas ($74.8 billion), of which external assets expanded by 17.4 percent year-on-year to 460.3 billion patacas and local assets in foreign currencies grew by 21. 5 percent to 137.8 billion patacas, according to the figures.

As major components of international assets, external loans and deposits in Macao's banking sector increased by 17.5 percent year-on-year to 431.2 billion patacas, the Monetary Authority said.