Hong Kong Monetary Authority: SME credit conditions in Hong Kong improved slightly in the third quarter

The Zhitong Finance App learned that on November 6, the Hong Kong Monetary Authority (HKMA) announced the results of the “SME Loan Status Survey” for the third quarter of 2026. The survey showed a slight improvement in the credit situation of Hong Kong SMEs.

Regarding the perception of SME's approach to bank loan approval (that is, how easy it is), excluding respondents who answered “no comments/I don't know”, 83% thought that the bank's approach to loan approval in the third quarter of 2026 was “no different” or “easier” than six months ago, up from 78% in the previous quarter. 17% thought the bank's response was “difficult,” compared to 22% in the previous quarter. The perception that loans are difficult does not necessarily reflect that SMEs are experiencing substantial difficulties in borrowing, but can be influenced by many factors (such as media/news reports, business conditions, and opinions from family and friends).

Among respondents who have been granted loans, 2% said that banks have “tightened” their approach to loans, down from 4% in the previous quarter. In this survey, the meaning of loan tightening includes various possibilities, such as reducing backup credit amounts and loan amounts, increasing credit interest rates, increasing collateral requirements, or shortening loan terms. As a result, interviewees indicated that the bank's approach to its loans did not directly reflect the bank's actual investment in loans to SMEs.

The survey also collected the results of new SME loan applications. 2% of respondents said they had applied for new loans from banks in the third quarter of 2026. Of the respondents whose application results are known, 78% said their application was completely successful or partially successful, down from 85% in the previous quarter.

Due to the small number of SMEs that have been approved for loans and SMEs applying for new loans during the quarter, accounting for only 18% and 2% of the SMEs surveyed, respectively. The survey results are prone to large fluctuations, so care must be taken when interpreting.