香港金管局：上半年零售银行整体税前经营溢利同比增长13.4%

Core Insights - The Hong Kong banking sector remains robust, with retail banks' pre-tax operating profit increasing by 13.4% in the first half of 2025 compared to the same period in 2024, driven by income from foreign exchange and derivatives, as well as increased fees and commissions [1][2] - The overall return on assets for banks rose to 1.27% in the first half of 2025, up from 1.19% in the same period of 2024 [1] Banking Sector Performance - The net interest margin for retail banks narrowed from 1.51% in 2024 to 1.47% in the first half of 2025 due to a decline in Hong Kong dollar interest rates [2] - The three-month Hong Kong Interbank Offered Rate (HIBOR) dropped by 269 basis points to 1.68% by the end of June 2025, influenced by an expansion in the banking system's surplus liquidity [2] - The total capital ratio for locally registered authorized institutions stood at a high of 24.4% at the end of the first half of 2025, significantly above the international minimum standard of 8% [2] Asset Quality and Loan Performance - The total classified loan ratio slightly increased from 1.96% at the end of December 2024 to 1.97% by the end of June 2025, indicating manageable asset quality risks [2] - The overdue and restructured loan ratio rose from 1.55% to 1.58% during the same period, but overall asset quality remains under control [2] Household Debt and Personal Loans - Household debt grew by 1.8% in the first half of 2025, surpassing the 0.6% increase in the second half of 2024, with residential mortgage loans increasing by 1.2% due to higher property transactions [3] - The Hong Kong Monetary Authority (HKMA) monitors household debt closely, with most being regulated under a macroprudential framework [3] SME Loan Situation - Local corporate loans increased by 2.4% in the first half of 2025, marking the first positive growth since the first half of 2023, with notable growth in loans to the electricity, gas, and information technology sectors [4] - The HKMA and the banking sector continue to support SMEs, with special funding for SMEs exceeding HKD 390 billion [4] - The total amount of loans related to mainland China increased from HKD 387.3 billion at the end of 2024 to HKD 402.3 billion by the end of June 2025, with a decrease in the classified loan ratio from 2.37% to 2.16% [4]