（原标题：香港金管局：9月份香港新申请贷款个案环比减少1.1%至8316宗） 智通财经APP获悉，10月31日，香港金融管理局公布2025年9月份的住宅按揭统计调查结果。数据显 示，九月份新申请贷款个案较八月份环比减少1.1%，至8316宗。 九月份新批出的按揭贷款额较八月份增加9.4%，至314亿港元。当中，涉及一手市场交易所批出的贷款 增加17.5%，至126亿港元；涉及二手市场交易所批出的贷款增加6.1%，至155亿港元。至于涉及转按交 易所批出的贷款，则减少2.4%，至32亿港元。 九月份新取用按揭贷款额较八月份增加9.7%，至209亿港元。 以香港银行同业拆息作为定价参考的新批按揭贷款所占比例，由八月份的94.4%下降至九月份的 92.6%。以最优惠贷款利率作为定价的新批按揭贷款所占比例，由八月份的1.3%上升至九月份的1.5%。 九月份未偿还按揭贷款总额月环比增加0.2%，至18914亿港元。 按揭贷款拖欠比率为0.13%，仍维持于低水平，经重组贷款比率维持于接近0%。 ...

Core Insights - The Macau Monetary Authority reported a decline in new residential mortgage loans and an increase in new commercial property loans in August 2025 [1] Group 1: New Mortgage Approvals - New residential mortgage loans decreased by 22.2% month-on-month to MOP 820 million, with the residential portion dropping by 22.5% to MOP 810 million and the non-residential portion down by 3.1% to MOP 15 million [1] - New commercial property loans increased by 301.8% month-on-month to MOP 1.14 billion, with the residential portion rising by 125.5% to MOP 620 million and the non-residential portion increasing to MOP 520 million [1] - The average monthly new residential mortgage loans from June to August 2025 was MOP 980 million, a decrease of 4.1% compared to the previous period [1] Group 2: Outstanding Mortgage Loans - As of the end of August 2025, the total outstanding residential mortgage loans decreased by 0.6% month-on-month to MOP 209.86 billion, with a year-on-year decrease of 5.9% [2] - The outstanding commercial property loans totaled MOP 143.54 billion, down 1.3% month-on-month and 6.2% year-on-year [2] - The residential portion of outstanding residential mortgage loans accounted for 96.7%, while the residential portion of outstanding commercial property loans accounted for 91.4% [2] Group 3: Loan Default Ratios - The residential mortgage loan default ratio increased by 0.1 percentage points month-on-month to 3.8%, but decreased by 0.5 percentage points year-on-year [3] - The commercial property loan default ratio was 5.5%, with a month-on-month increase of 0.1 percentage points and a year-on-year increase of 1.6 percentage points [3]

Investment Rating - The report does not explicitly state an investment rating for the Hong Kong banking industry Core Insights - The Hong Kong banking industry demonstrated resilience in 2024, with total assets growing by 4.5% despite challenges such as weak loan demand and a slight decline in net interest margins [10][17] - The overall operating profit before impairment charges increased by 7.8% year-on-year, reaching HKD 318 billion, driven by strict cost control and operational efficiency [10][18] - The report highlights the importance of digital transformation and the integration of AI technologies in enhancing operational efficiency and compliance [13][71] Financial Performance Summary - In 2024, the total assets of licensed banks in Hong Kong reached HKD 24 trillion, with customer deposits increasing by 4.1% despite a 2.3% decline in loans and advances [17][18] - The average net interest margin for the top ten licensed banks decreased from 1.65% in 2023 to 1.59% in 2024, with total net interest income dropping by 5.9% to HKD 295 billion [25][26] - The cost-to-income ratio improved slightly from 42.6% in 2023 to 42.2% in 2024, reflecting effective cost management strategies [31][32] Non-Performing Loans - The overall non-performing loan ratio for the banking sector increased from 1.65% to 2.15% in 2024, influenced by the downturn in the real estate market [44][46] - Bank of China (Hong Kong) reported the lowest non-performing loan ratio at 0.33%, while Hang Seng Bank experienced the highest increase to 6.12% [43][44] Impact of US-China Tariffs - The report discusses the recent tariff agreements between the US and China, which temporarily reduced tariffs but left significant uncertainty in trade relations [61][62] - The banking sector is advised to closely monitor the evolving trade policies and assess risks associated with export-dependent borrowers [64][65] Digital Transformation and AI - The development of AI agents is highlighted as a key focus for the banking industry, with banks integrating AI into broader digital transformation strategies [13][79] - The report emphasizes the need for banks to enhance their governance and control frameworks alongside the deployment of new technologies [13][72] Future Outlook - The profitability of the Hong Kong banking sector in 2025 will depend on trade dynamics and the Federal Reserve's response to inflation driven by tariffs [27][66] - The report suggests that banks should diversify their portfolios and accelerate digital transformation to achieve long-term stability [56][66]

以香港银行同业拆息作为定价参考的新批按揭贷款所占比例，由7月份的95.7%下降至8月份的94.4%。 以最优惠贷款利率作为定价的新批按揭贷款所占比例，由7月份的1.2%上升至8月份的1.3%。 8月份未偿还按揭贷款总额按月增加0.1%，至18,883亿港元。按揭贷款拖欠比率为0.13%，仍维持于低水 平，经重组贷款比率维持于接近0%。 智通财经APP获悉，9月30日，香港金融管理局公布2025年8月份的住宅按揭统计调查结果。调查显示， 8月份新申请贷款个案为8,405宗，较7月份减少6.7%。8月份新取用按揭贷款额较7月份增加4.5%，至190 亿港元。 8月份新批出的按揭贷款额287亿港元，较7月份减少6.3%。其中，涉及一手市场交易所批出的贷款减少 0.7%，至107亿港元;涉及二手市场交易所批出的贷款减少11.9%，至146亿港元。至于涉及转按交易所批 出的贷款，则增加4.1%，至33亿港元。 ...

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]

未偿还商用物业贷款总额为1,454.8亿元，按月比较大致持平，按年减少5.3%;其中，居民部分占91.3%。 居民部分的未偿还商用物业贷款按月下跌0.5%，非居民部分则上升5.7%。 贷款拖欠比率 2025年7月底的住宅按揭贷款拖欠比率按月上升0.1个百分点至3.7%，按年则下跌0.5个百分点。商用物 业贷款拖欠比率为5.4%，按月比较持平，按年则上升1.5个百分点。 9月15日，澳门金融管理局发布的统计显示，2025年7月新批核的住宅按揭贷款及商用物业贷款均按月下 跌。在未偿还贷款总额方面，住宅按揭贷款按月下跌，商用物业贷款则保持平稳。澳门银行于2025年7 月新批核的住宅按揭贷款按月下跌0.3%至10.5亿元(澳门元，下同)。其中，占新批核住宅按揭贷款 98.6%的居民部分上升1.6%至10.4亿元，非居民部分则下跌55.4%至1千5百万元。2025年5月至7月的新批 核住宅按揭贷款每月平均数为10.2亿元，较上期(2025年4月至6月)增加5.9%。 新批核的商用物业贷款从上月较高基数减少84.9%至2.8亿元。其中，占新批核商用物业贷款96.4%的居 民部分下跌85.2%至2.7亿元，非居民部分减少6 ...

Core Insights - The Hong Kong Monetary Authority released the residential mortgage statistics for June 2025, indicating a month-on-month increase in new mortgage applications and approvals [1] Group 1: Mortgage Applications - New mortgage applications in June increased by 4.8% compared to May, reaching 8,581 cases [1] - The total amount of new mortgage loans approved in June rose by 3.3% from May, amounting to HKD 27.5 billion [1] Group 2: Market Segmentation - Loans related to primary market transactions increased by 4.2% to HKD 9.3 billion [1] - Loans related to secondary market transactions saw a 2.4% increase, totaling HKD 15 billion [1] - Loans for refinancing transactions increased by 5.2%, reaching HKD 3.2 billion [1] Group 3: Utilization and Pricing - The amount of new mortgage loans drawn down in June increased by 8.9% from May, totaling HKD 17.7 billion [1] - The proportion of new mortgage loans priced based on the Hong Kong Interbank Offered Rate (HIBOR) rose from 93.4% in May to 94.7% in June [1] - The proportion of new mortgage loans priced based on the best lending rate decreased from 1.9% in May to 1.7% in June [1] Group 4: Outstanding Loans and Delinquency - The total outstanding mortgage loans increased by 0.1% month-on-month, reaching HKD 1,885.6 billion [1] - The mortgage delinquency ratio remained low at 0.13%, with the restructured loan ratio close to 0% [1]

Core Insights - The new residential mortgage loans approved in Macau increased by 7.2% month-on-month to 950 million MOP in May 2025, while new commercial property loans saw a significant decline of 62.1% to 570 million MOP [1] - The total outstanding residential mortgage loans amounted to 213.58 billion MOP, reflecting a month-on-month decrease of 0.4% and a year-on-year decrease of 5.4% [2] - The delinquency rate for residential mortgage loans remained stable at 3.6% month-on-month, while the delinquency rate for commercial property loans decreased by 0.1 percentage points to 5.4% [3] Group 1: New Loan Approvals - New residential mortgage loans approved in May 2025 increased by 7.2% to 950 million MOP, with the residential portion rising by 13.1% to 930 million MOP, while the non-residential portion fell to 21 million MOP [1] - New commercial property loans approved in May 2025 decreased by 62.1% to 570 million MOP, all of which were residential loans [1] - The average monthly new residential mortgage loans from March to May 2025 was 870 million MOP, up 9.3% from the previous period [1] Group 2: Outstanding Loans - As of the end of May 2025, the total outstanding residential mortgage loans was 213.58 billion MOP, down 0.4% month-on-month and down 5.4% year-on-year, with the residential portion accounting for 96.7% [2] - The total outstanding commercial property loans decreased by 1.0% month-on-month to 146.64 billion MOP, with a year-on-year decrease of 5.9% [2] - The outstanding residential and non-residential portions of residential mortgage loans decreased by 0.4% and 1.1% month-on-month, respectively [2] Group 3: Delinquency Rates - The delinquency rate for residential mortgage loans was stable at 3.6% month-on-month, with a year-on-year increase of 0.1 percentage points [3] - The delinquency rate for commercial property loans decreased by 0.1 percentage points to 5.4% month-on-month, but increased by 0.8 percentage points year-on-year [3]

Core Viewpoint - The Hong Kong Monetary Authority (HKMA) has denied rumors regarding the establishment of a "bad bank" to manage non-performing loans, stating that banks are managing credit risks prudently and that the overall health of the banking sector is sound [2][3]. Group 1: Banking Sector Health - The HKMA emphasizes that the banking sector's balance sheets are healthy, with a credit provisioning coverage ratio exceeding 140%, indicating sufficient reserves to cover potential losses [3]. - As of the end of Q1 2025, the specific classified loan ratio slightly increased from 1.96% to 1.98%, but the overall asset quality remains manageable [4][5]. - The average liquidity coverage ratio for Class 1 institutions was reported at 182.5%, significantly above the statutory minimum requirement of 100% [5]. Group 2: Profitability and Loan Trends - In Q1 2025, the pre-tax operating profit of the retail banking sector increased by 15.8% year-on-year [5]. - Total loans in the Hong Kong banking sector rose by 0.6%, while total deposits increased by 3.5% during the same period [5]. - The loan-to-deposit ratio decreased from 57.0% at the end of Q4 2024 to 55.5% at the end of Q1 2025 [5]. Group 3: Credit Quality - The delinquency rates for credit card loans and residential mortgage loans remained low, at 0.37% and 0.13% respectively, as of the end of Q1 2025 [5].

Group 1 - The total amount of newly approved residential mortgage loans in Macau increased by 13.8% month-on-month to 880 million MOP in April 2025, with the residential portion rising by 6.8% to 820 million MOP [1] - The average monthly amount of newly approved residential mortgage loans from February to April 2025 was 790 million MOP, a decrease of 15.7% compared to the previous period [1] - Newly approved commercial property loans decreased by 22.1% month-on-month to 1.52 billion MOP, with the residential portion dropping by 45.6% to 1.01 billion MOP [1] Group 2 - As of the end of April 2025, the total outstanding residential mortgage loans decreased by 0.6% month-on-month to 214.39 billion MOP, a year-on-year decrease of 5.3% [2] - The outstanding commercial property loans amounted to 148.08 billion MOP, reflecting a month-on-month decrease of 0.3% and a year-on-year decrease of 5.2% [2] - The residential portion of outstanding residential mortgage loans accounted for 96.7% of the total [2] Group 3 - The residential mortgage loan delinquency ratio remained stable at 3.6% as of the end of April 2025, with a year-on-year increase of 0.1 percentage points [3] - The commercial property loan delinquency ratio was 5.5%, showing an increase of 0.1 percentage points month-on-month and 2.1 percentage points year-on-year [3] - Residential mortgage loans are secured by residential properties within the Macau SAR, while commercial property loans are secured by commercial properties within the same region [3]