LENDING & CREDIT, TRADE FINANCE | Staff Reporter, Hong Kong

Hong Kong banks' system loans slipped 0.4% in August

Loans for use outside HK were down 2.2%.

Barclays notes that the loan contraction continues from weaker trade-related loans. The HKMA’s August monetary statistics showed system loans declined by 0.4% m/m led by loans for use outside Hong Kong down by 2.2% m/m and trade finance which fell by 1.2% m/m.

"Loans for use in HK rose by 0.5% m/m. We believe the decline in trade-related loans and loans for use outside HK which are Mainland related is because of RMB deprecation expectations and concerns over slowing economic growth in China, which is affecting loan demand in Hong Kong," adds Barclays.

Do you know more about this story? Contact us anonymously through this link.

Click here to learn about advertising, content sponsorship, events & rountables, custom media solutions, whitepaper writing, sales leads or eDM opportunities with us.

To get a media kit and information on advertising or sponsoring click here.