Survey on Small and Medium-Sized Enterprises (SMEs)’ Credit Conditions for Third Quarter 2024

The Hong Kong Monetary Authority (HKMA) released the results of its third-quarter 2024 survey on Small and Medium-Sized Enterprises (SMEs) credit conditions, revealing a slight improvement. Seventy-six percent of SMEs reported that banks’ credit approval stance was either “similar” or “easier,” up from 73% in the previous quarter. Additionally, only 1% of SMEs with existing credit lines faced a “tighter” stance, a decrease from 2% previously. Among SMEs that applied for new credit, 79% had successful applications, up from 70%. However, due to the small sample size, the findings should be interpreted cautiously. This quarterly survey, which has been ongoing since 2016, monitors SMEs’ access to bank credit in Hong Kong.

Resources: https://www.hkma.gov.hk/eng/news-and-media/press-releases/2024/11/20241104-3/