Banking

Macao banks' lending to SMEs down 17.5% in H2 of 2010

(Xinhua)
Updated: 2011-03-03 14:43

MACAO - New SME (Small and Medium-sized Enterprise) credit limit approved by Macao banks in the second half of 2010 decreased by 17.5 percent over the first half of 2010 to 8.5 billion patacas ($1.06 billion), according to figures released Wednesday by the Monetary Authority of Macao.

The figures showed that New SME credit limit approved in the second half of 2010 was 3.7 percent down on the same period of 2009.

Related readings:  Macao's LPG consumption up 29.1$ in Q4 of 2010  Macao's electricity consumption up 5.5% in 2010  Macao's retail sales up 32% in 2010

The collateralized ratio, which is part of the credit limit with tangible assets pledged, stood at 63.8 percent in the period, up significantly by 27.5 percentage points compared with the first half of last year, according to the figures.

The outstanding value of total SME loans reached 24.9 billion patacas ($3.11 billion), with loans to sectors of restaurants, hotels and similar activities; wholesale and retail trade; manufacturing; and construction and public works; increasing at respective rates of 56.7 percent, 30.3 percent, 10.0 percent and 7.2 percent.

The outstanding balance of SME delinquent loans at the end of December 2010 increased by 8.9 percent from six months earlier to 526.3 million patacas ($65.78 million), according to the Monetary Authority.