On January 22, KPMG released the latest “Hong Kong Banking Outlook 2024” report. The bank expects the challenges facing the banking industry to continue until 2024 due to the still sluggish economic sentiment in Hong Kong, which may lead to a slowdown in loan growth, and the decline in financial activity will also affect the revenue earned by banks through fees and commissions. Since it is unlikely that interest rates will be cut before the third quarter of 2024, it will bring interest income to the banking industry and support full-year earnings. Although credit losses have become a major trend, many banks are expected to adjust their account structures in 2024 to prepare for future developments.
毕马威：2024年香港银行业面临的挑战仍将持续 但利率高企或将推动行业收益
KPMG: Hong Kong's banking sector will continue to face challenges in 2024, but high interest rates may drive industry profits
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