Macao SAR’s int’l business in banking sector retreats in Q3

MACAO, Nov. 18 (Xinhua) — The proportion of international business in the Macao Special Administrative Region (SAR)’s banking sector retreated in the third quarter of 2024, according to statistics released by the SAR’s monetary authority on Monday.
The authority said that at the end of September, the share of international assets in total banking assets decreased to 83.2 percent from 83.4 percent at the end of June, while the share of international liabilities in total banking liabilities dropped to 80.5 percent from 81.1 percent.
According to the statistics, most of Macao’s banking sector’s external assets and liabilities were related to Asia. At the end of September, claims on the mainland and Hong Kong occupied 40.8 percent and 24.5 percent of total external assets, respectively. Meanwhile, claims on Portuguese-speaking countries and Belt and Road countries occupied respective shares of 0.7 percent and 12.2 percent.
On external liabilities, Hong Kong and the mainland accounted for 44.7 percent and 34.6 percent of the total, respectively. Portuguese-speaking countries and Belt and Road countries represented 0.4 percent and 7.4 percent, respectively. ■