Hong Kong’s total loans down 2.8% in 2024

Loans for use outside Hong Kong dropped by 1.3% in December.

Total loans and advances in Hong Kong rose by 0.3% in December, but fell by 2.8% for 2024 as a whole, according to central bank data.

Loans for use in Hong Kong—including trade finance— rose by 0.8% over the same period, the Hong Kong Monetary Authority (HKMA) said in its Monetary Statistics report published on 28 January 2025.

Loans for use outside Hong Kong declined by 1.3% in December 2024.

The Hong Kong dollar loan-to-deposit ratio decreased to 77.1% at the end of December from 78% at the end of November, as Hong Kong dollar deposits increased whilst Hong Kong dollar loans decreased, the HKMA said.

For Q4 2024, loans for use in Hong Kong dipped by 0.1%, slowing from the 0.8% decline of the previous quarter.

Loans for financial concerns increased, whilst loans to building, construction, property development and investment decreased, the HKMA said.