Hong Kong banks to see bumpier year

Taking a hit: A HSBC bank branch in London. HSBC made US$3.4bil in provisions to cover expected credit losses for the year due to Chinese commercial real estate. — Bloomberg

HONG KONG: While Hong Kong banks have reaped the benefits of rising interest margins in 2023, experts are warning of tough times ahead for the sector, as economic uncertainties are expected to lead to lower growth.

The year 2023 was a bumper year for Hong Kong lenders amid rising funding costs.