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FRIDAY, FEBRUARY 2, 1979
ON THE THREE MONTHLY COMPARISON, THE AVERAGE LEVEL OF LOANS AND ADVANCES IN OCTOBER TO DECEMBER WAS 42.5 PER CENT ABOVE THE SAME PERIOD OF 1977, WHICH AGAIN SHOWS A RISING TREND IN THE SECOND HALF OF 1978.
THERE WAS A FURTHER RISE IN BALANCES DUE TO BANKS ABROAD AT THE END OF DECEMBER, AND A SLIGHTLY SMALLER RISE IN CLAIMS ON BANKS ABROAD. WITH A SLIGHT FALL IN THE VOLUME OF LOANS OUTSIDE HONG KONG, THE NET IDENTIFIABLE FOREIGN ASSETS OF THE HONG KONG BANKING SECTOR FELL BY A FURTHER $747 MILLION TO $16,167 MILLION,
THE QUARTERLY ANALYSIS OF BANK LOANS AND ADVANCES AT THE END OF DECEMBER SHOWS A RISE OF 13.6 PER CENT IN BANK LENDING SINCE THE END OF SEPTEMBER.
LOANS TO MANUFACTURING INDUSTRY HAVE RISEN BY 10.2 PER CENT, LOANS FOR THE TRANSPORT INDUSTRY AND TRANSPORT EQUIPMENT ROSE BY 26.2 PER CENT, AND TO THE BUILDING AND CONSTRUCTION SECTOR BY 21.0 PER CENT.
LOANS TO PROFESSIONAL AND PRIVATE INDIVIDUALS ROSE IN THE QUARTER BY 7.8 PER CENT.
THE ANALYSIS OF BANK LOANS AND ADVANCES AT THE END OF DECEMBER INCLUDES ONE NEW ITEM.
LOANS TO PROFESSIONAL AND PRIVATE INDIVIDUALS ARE NOW FURTHER ANALYSED TO SHOW THE VOLUME OF LENDING TO THESE INDIVIDUALS FOR THE PURCHASE OF RESIDENTIAL PROPERTIES, WHICH AT THAT DATE TOTALLED $4,940 MILLION, OR 51 PER CENT OF TOTAL LOANS TO INDIVIDUALS. FIGURES ARE NOT AVAILABLE FOR THIS HEADING BEFORE DECEMBER, 1978.
OVER THE WHOLE OF 1978 BANK LOANS AND ADVANCES ROSE BY 43.3 PER CENT. LOANS TO MANUFACTURING INDUSTRY ROSE BY 52.2 PER CENT LOANS TO THE BUILDING AND CONSTRUCTION SECTOR ROSE BY 73.1 PER CENT AND BORROWING BY PROFESSIONAL AND PRIVATE INDIVIDUALS ROSE BY 40.9 PER CENT.
A GOVERNMENT SPOKESMAN SAID TODAY (FRIDAY) THE AGGREGATED STATISTICS FOR DEPOSIT TAKING COMPANIES AS AT THE END OF DECEMBER ARE EXPECTED TO BE PUBLISHED NEXT WEEK.
NOTE TO EDITORS:
COPIES OF BANKING AND MONEY SUPPLY STATISTICS WILL BE BOXED SEPARATELY LATER THIS (FRIDAY) EVENING IN GIS PRESS BOXES ON THE FIFTH FLOOR OF BEACONSFIELD HOUSE.
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