4 in 5 SMEs report easier bank credit approvals in Q3

Some, however, said the process was more difficult.

Four in five (76%) small and medium-sized enterprises (SMEs) said obtaining credit approval from banks has become easier in Q324.

The Hong Kong Monetary Authority (HKMA) said SMEs reporting easier credit approval from banks rose by 73% compared to Q2.

In contrast, two in 10 SMEs reported that their bank's credit approval stance was more difficult, down from 27% in the previous quarter.

HKMA said the perception of a more difficult credit approval stance “may not necessarily reflect actual difficulties faced by SMEs in obtaining bank credit as the perception could be affected by a number of factors, such as media/news reports, business conditions and opinions of relatives and friends.”

Meanwhile, among SMEs that applied for new bank credit during the quarter, 79% reported fully or partially successful applications, up from 70% previously.

For SMEs with existing credit lines, only 1% reported a tighter stance from banks, a decrease from 2% in the previous quarter.

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Hong Kong Monetary Authority

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