 
				Non-performing loans as a share of bank loans rose 26.3% yoy to 4.95% in Macao in 1Q2025, according to the National Central Bank. This is 3.93% less than in the previous quarter.
Historically, non-performing loans as a share of bank loans in Macao reached an all time high of 5.16% in 4Q2024 and an all time low of 0.092% in 4Q2013.
Macao has been ranked 7th within the group of 51 countries we follow in terms of non-performing loans as a share of bank loans, 106 places above the position seen 10 years ago.
| Non-Performing Loans (As % of Total Loans) | Unit | Mar 2020 | Jun 2020 | Sep 2020 | Dec 2020 | Mar 2021 | Jun 2021 | Sep 2021 | Dec 2021 | Mar 2022 | Jun 2022 | Sep 2022 | Dec 2022 | Mar 2023 | Jun 2023 | Sep 2023 | Dec 2023 | Mar 2024 | Jun 2024 | Sep 2024 | Dec 2024 | Mar 2025 | 
| China | % | 1.61% | 1.59% | 1.59% | 1.56% | 1.56% | ||||||||||||||||
| Hong Kong | % | 1.21% | 1.20% | 1.40% | 1.52% | 1.57% | ||||||||||||||||
| India | % | 3.64% | 3.36% | 2.87% | 2.81% | 2.69% | ||||||||||||||||
| Indonesia | % | 2.15% | 1.96% | 2.04% | 2.08% | 2.04% | ||||||||||||||||
| Japan | % | ... | ... | ... | ... | ... | ... | ... | 1.20% | ... | 1.28% | ... | 1.21% | ... | ... | |||||||
| Macao | % | 2.25% | 3.55% | 3.92% | 4.20% | 4.81% | ||||||||||||||||
| Malaysia | % | 1.72% | 1.65% | 1.62% | 1.59% | 1.54% | ||||||||||||||||
| Philippines | % | 3.34% | 3.19% | 3.32% | 3.49% | 3.43% | ||||||||||||||||
| Russia | % | 4.97% | 4.51% | 4.58% | ... | ... | ... | ... | ||||||||||||||
| Singapore | % | ... | ... | ... | ... | ... | ... | ... | ... | ... | ... | ... | ... | ... | ... | ... | ... | ... | ... | ... | ... | ... | 
| Taiwan | % | ... | ... | ... | ... | ... | ... | ... | ... | ... | ... | ... | ... | ... | ... | ... | ... | ... | ... | ... | ... | ... | 
| Thailand | % | 2.81% | 2.76% | 2.84% | 2.90% | 2.99% | ... | |||||||||||||||
| USA | % | 0.803% | 0.847% | 0.896% | 0.886% | 0.935% | ... | ... | ||||||||||||||
| Vietnam | % | ... | ... | ... | ... | ... | ... | ... | 5.85% | 5.41% | 5.59% | 5.35% | ... | ... | ... |