Macau banks report record profits in January

Macau’s banks recorded MOP1570 million in profits in January. The Monetary Authority (AMCM) released figures that show record profits.

Compared with the same period last year, the banks’ profits rose 71.3%. It was the best month of January since the AMCM started collecting statistics on the monthly operations of the banking sector in 2005.

Other Monetary Authority figures showed that demand deposits grew by 4.7% in January. Deposits of residents reached about MOP702 billion and those of non-residents about MOP328 billion.

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