Arthur Yuen: Deposits and Loans Both Up 7.7% in First 9 Months, Confident in Banking Stability

Hong Kong Monetary Authority Deputy Chief Executive Arthur Yuen says total bank deposits and loans both rose 7.7% in the first 9 months of this year, annualised at over 10% and 10.2% respectively, with trade finance up 20%. The preliminary figure for the specific classification loan ratio in the third quarter remained stable compared with the end of the second quarter, with the provision coverage ratio at about 65% excluding collateral and 150% including collateral; he considers credit risk to be broadly controllable.