Stable growth:
Monetary Authority Deputy Chief Executive Arthur Yuen delivers the year-end review.
HK banks resist global woes
January 18, 2012
Hong Kong’s banking sector remains resilient despite global economic uncertainty.
Delivering the Monetary Authority's year-end review today, its Deputy Chief Executive Arthur Yuen said the banking sector's total loans rose 20.2% and residential mortgage loans increased 8% last year.
Profits rose in interest and non-interest income, with total deposits up 10.6%.
However, Mr Yuen urged the sector to monitor credit growth, asset quality, funding strategies, liquidity positions and risk management.
More on-site examinations of Mainland-related business should be conducted.
He said the local property market and European market development should also be closely watched.
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