Hong Kong loan growth extends climb after rising 15% in March

This represents the fourteenth consecutive month of double-digit annual growth.

The banking system's total loans and advances rose 15% YoY in March, according to OCBC Treasury Research, which represents the fourteenth consecutive month of double-digit annual growth.

On a quarterly basis, loans for domestic use rose from 2.8% to 3.6% in Q1 amidst intensified borrowing for building, construction, property development and investment.

Also read: Will the looming property slowdown set back Hong Kong banks?

Loans for domestic use excluding trade finance rose 15.3% amidst a stock market rally and strong performance from the stock market. Loans for use outside Hong Kong also grew 14.8% YoY after a slight moderation following a peak of 20.8% in November.

“HKD loans should have been attractive to offshore borrowers as a weak HKD effectively reduces the repayments and interest expenses,” OCBC noted.

However, curbs on excessive overseas expansion and expectation of easing bias from the central bank People Bank’s of China will likely weigh in on Mainland demand for offshore loans.

Also Read

Cambodia enables QR payments from foreign e-wallets through Alipay+

Hong Kong to rename ‘virtual banks’ to ‘digital banks’

Since you're here...

...there are many ways you can work with us to advertise your company and connect to your customers. Our team can help you dight and create an advertising campaign, in print and digital, on this website and in print magazine.

We can also organize a real life or digital event for you and find thought leader speakers as well as industry leaders, who could be your potential partners, to join the event. We also run some awards programmes which give you an opportunity to be recognized for your achievements during the year and you can join this as a participant or a sponsor.

Let us help you drive your business forward with a good partnership!

I want to download the media kit