摩根斯丹利-6月贷款和存款数据-hongkongfinancialsjuneloans＆depositdata-thestreakaccelerates-20170802-morganstanley-13页.pdfVIP

August 2, 2017 01:19 AM GMT MORGAN STANLEY AS IA LIMIT E + HHoonngg KKoonngg FFiinnaanncciiaallss Anil Agarwal EQUITY ANALY ST Anil.Agarwal@morganst +852 2848-5842 J une Loans Deposit Data - The Cassie Sun RES EARCH ASSOCIAT E Streak Accelerates Cassie.S un@morganst +852 2239-7832 Hong Kong Financials Asia Pacific IndustryV iew Attractive HKMA reported loan growth in J une at 15% YoY, 10% YTD - Banks continued to grow loans at a very fast pace, some of this was evident in HSBC / HSB results. A number of investors view is that it is increased borrowing from the mainland that is driving this growth. However, in loan breakup (available every quarter - Exhibit 10) we can see that the growth is fairly broad based. Loan for use outside HK (primarily mainland related) was up 12% HoH. However, loans for use in HK was up 9% HoH with strong growt