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<Research>Citi: Falling HIBOR Puts Short-term Pressure on HK Banks' NIM
HKD/ USD reached the 7.75 strong-side Convertibility Undertaking (CU), prompting the Hong Kong Monetary Authority (HKMA) to intervene by injecting funds into the market, which incr...
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<Research>Citi: Falling HIBOR Puts Short-term Pressure on HK Banks' NIM
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HKD/ USD reached the 7.75 strong-side Convertibility Undertaking (CU), prompting the Hong Kong Monetary Authority (HKMA) to intervene by injecting funds into the market, which increased the balance of the Hong Kong banking system from $45 billion at the end of April to about $174 billion as of 8 May, driving the HIBOR down, according to a research report issued by Citi Research.

As of 8 May, one-month HIBOR has fallen to 2.09%, down by a total of 1.86 ppts during the month. The broker believed that this may bring short-term pressure on banks' net interest margin (NIM), while an one-month HIBOR below 2.2% may lead to a repricing of mortgage loan interest rates.

Related NewsHSBC Research: HKEX May Face Greater Competition as CN A-Shr Listings Accelerate
For every 25 bps drop in Hong Kong's interest rates, HANG SENG BANK (00011.HK)  +0.400 (+0.339%)    Short selling $14.95M; Ratio 29.656%   / BOC HONG KONG (02388.HK)  -0.581 (-1.673%)    Short selling $48.22M; Ratio 17.521%   will face downward pressure on their profits before tax of 1.3%/ 2.1%, while HSBC/ Stanchart will face a negative impact of 0.3%/ 0.2%, according to Citi Research's estimations.
(HK stocks quote is delayed for at least 15 mins.Short Selling Data as at 2025-06-30 12:25.)

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