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STATISTICAL TABLES Statistical Tables 233

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STATISTICAL TABLES Statistical Tables 233 STATISTICAL TABLES Statistical Tables 233 TABLE 2.1 Number of Banks and Near-Banks in Hong Kong 31 December 1969 30 June 1980 Licensed banks: No. of main offices 73 113 No. of total offices, 362 1,078 including branches Representative offices 21 104 Registered deposit-taking companies (including merchant banks and finance nil 283 companies) Source: Banking Commissioner's Office. N W .j:>.. TABLE 2.2 Consolidated Balance Sheet of Licensed Banks, 1969-79 (million Hong Kong dollars) ~ ;:::: !::> End ofyear 1969 1971 1973 1975 1977 1979 ;:::: <"') Liabilities "-!::>-. Total deposits 12,297 18,785 26,191 36,343 53,019 88,014 CI) Amount due to banks abroad 1,845 3,000 8,911 21,243 36,850 73,685 .... ~ Other liabilities 2,385 3,070 5,148 8,011 10,497 24,159 <"') ~ 16,527 24,855 40,250 65,597 100,366 185,858 Assets ~ "" Cash 333 358 574 775 924 1 ,495 R<> Amount due from banks abroad 5,299 9,384 10,201 21,045 34,152 66,435 Loans and advances: a::::: ;:::: Hong Kong 7,680 11 ,197 21,578 24,998 36,856 73,690 ~ Abroad 204 639 1,685 10,077 18,793 20,778 Ei ~ Investments: Hong Kong 659 1,051 1,922 2,891 3,836 5,462 "-~ Abroad 10 30 62 50 101 180 -.<"') Other assets 2,342 _ 2,196 ---4,228 5,761 5,704 17,818 -.~ 24,855 40,250 65,597 100,366 185,858 "" 16,527 -.;:::: Yl Source: Hong Kong Mon th ly Digest of Statistics and The 1975-76 Budget: Economic Background. ~ ::t:.. Ei'"" Statistical Tables 235 T ABLE 2.3 Consolidated Balance Sheet oi Deposit·taking Companies (million HK dollars) 31 December 1978 31 December 1979 Liabilities Deposits 10,447 24,495 Amount due to banks 6,386 11,463 in Hong Kong Amount due to banks 27,398 31,160 abroad Other Iiabilities 8,121 10,347 $52,352 $77,465 Assets Cash 5 4 Amount due from banks 6,760 20,029 in Hong Kong Amount due from banks 8,943 13,559 abroad Loans and advances: Hong Kong 10,139 13,566 Abroad 21,165 24,778 Investments: Hong Kong 1,062 1,157 Abroad 842 997 Other assets: Hong Kong 1,644 1,459 Abroad ~ ~ $52,352 $77,465 Source: Banking Commissioner's Office. 236 Financial Structures & Monetary Policies in s.E. Asia TABLE 2.4 Bank Acquiritionll in Hong Kong Name of bank acquired Controlled by/affiliated with Equity acquired (per cent) 1. Hang Seng Bank Ud. Hong Kong and Shanghai Banking 61 Corporation, Hong Kong 2. Far East Bank Ud. Citibank N.A., USA 76 3. Shanghai Commercial Wells Fargo Bank, USA 10 Bank Ltd. 4. Ka Wah Bank Ud. Yu Chuan Finance Ud., Malaysia 74 S. Dao Heng Bank Ud. Grindlays Bank, UK 100 6. Bank of Canton Ud. Security Pacific National Bank, 72 USA 7. Commercial Bank of Tokai Bank, Japan 10 Hong Kong Ud. 8. Chekiang First Bank Dai-Ichi Kangyo Bank, Japan 33 Ud. 9. Kwong On Bank Ud. Fuji Bank, Japan 55 10. Wing Lung Bank Ud. Chartered Bank Ud., UK 13.3 11. Wing Hang Bank Ud. Irving Trust Co., USA 51 12. Liu Chong Hing Bank The Mitsubishi Bank, Japan 25 Ud. 13. Hong Kong Metropolitan Becl Holdings, Luxembourg 43.64 Bank Ud. 14. Underwriters Bank Continentallllinois Bank, USA 60 15. Hong Kong Industrial Overseas Trust Bank, Hong Kong 94.34 and Commercial Bank Ud. 16. Hong Kong Chinese Overseas Trust Bank, Hong Kong 76 Bank Ud. Source: Y. C. Jao, Banking and OIrrency in Hong Kong and current press announcements. Statistical Tables 237 TABLE 2.5 Indicaton of Financial Deepening Indicators Initial date Terminal date Annual growth (per cent) 1. Per capita real balances HK$I,162 HK$2,027 7.2 of MI, adjusted for (end of 1971) (end of 1979) consumer price changes 2. Per capita real balances HK$2,007 HK$3,584 7.5 ofMl,adjusted by GOP (end of 1971) (end of 1979) deflator 3. Per capita real balances HK$ 701 HK$6,958 9.4 of M2, adjusted for (end of 1954) (end of 1979) consumer price changes 4. Per capita real balances HK$4,352 HK$12,303 8.3 ofM2, adjusted by GOP (end of 1966) (end of 1979) deflator 5. Ratio of MI to GOP 31.8 per cent 31.8 per cent 0 (end of 1971) (end of 1979) 6. Ratio of M2 to GOP 47.3 per cent 109.9 per cent 3.4 (end of 1954) (end of 1979) 7. Banking density, 0.42 2.02 6.5 narrowly defined (end of 1954) (end of 1979) 8. Banking density, 2.32 2.78 6.2 broadly defined (end of 1976) (end of 1979) 9. Relative share of 6.1 per cent 13.2 per cent 4.8 financial sectorin GOP (end of March 1961) (end of 1977) 10. Relative share of 2.19 per cent 2.7 per cent 6.2 financial sector in (November 1975) (May 1979) totallabour force Notes: MI = the sum of currency in the hands of non-bank public and demand deposits at licensed banks M2 = the sum of MI and savings and time deposits at licensed banks. GOP = Gross Oomestic Product at factor cost. Banking density narrowly dejined = Num ber of offices of licensed banks per 10,000 population. Banking density broadly dejined = The sum of offices of licensed banks, representative offices, and OTCs, per 10,000 population. Financial sec tor = monetary institutions, other financial institutions, financial services and insurance companies. Source: Underlying data from various issues of Hong KOllg Monthly Digest of Statistics, Economic Background, and Estimates of Gross Domestic Product. 238 Financial Structures & Monetary Policies in s.E. Asia TABLE 2.6 Changes in Money Stock Attributable to Indicated Determinants (per cent) Proximate Determinants MI M2 1961-72 1971-78 1977-79 1961-72 1971-78 1977-79 H 78.2 71.9 57.3 75.6 70.2 50.2 b 8.7 28.9 43.1 11.8 24.3 42.0 p 9.4 -4.0 -2.9 8.2 3.4 5.4 Interaction between band p 3.8 3.3 1.8 4.4 2.3 2.1 TABLE 2.7 Seasonally Adjusted Nominal Money Supply (million HK dollars) Endof Annual Annual Annual year MI change M2 change M3 change (per cent) (per cent) (per cent) 1971 6,673 21,371 N.A. 1972 9,653 +44.7 27,539 +28.9 N.A. 1973 9,075 - 6.0 29,342 + 6.5 N.A. 1974 9,300 + 2.5 34,200 +16.6 N.A. 1975 11,427 +22.9 40,010 +17.0 N.A. 1976 14,068 +23.1 48,431 +21.0 N.A. 1977 18,103 +28.7 58,472 +20.7 N.A. 1978 22,307 +23.2 73,432 +25.6 77 ,114 1979 27,790 +24.6 95,332 +29.8 99,794 +29.4 Note: MI = currency in the hands of non-bank public plus demand deposits with licensed banks. M2 = MI plus savings and time deposits with Iicensed banks. M3 = M2 plus time deposits with DTCs less DTCs' cash holdings and claims on licensed banks. Source: Underlying data from Banking Commissioner's Office and Hong Kong Monthly Digest of Statistics Statistical Tables 239 TABLE 2.8 Annual Growth Rates o[ Money Stock (per cent) Mi M2 Period Mean CV Range Period Mean CV Range 1954-9 6.8 80.4 1.4-16.3 1954-9 11.2 58.7 3.8-23.1 1960-70 11.4 36.5 6.2-19.2 1960-9 17.5 36.4 1.1-23.2 1971-9 20.5 71.4 -6.0-28.7 1970-9 21.2 32.0 6.6-29.8 1974-9 20.8 41.2 2.5-28.7 1974-9 21.8 21.4 16.6-29.8 Note: CV = Coefficient of variation. TABLE 2.9 Currency Ratio and Money-Income Ratio (per cent) End o[year Ci C2 Mi/GDP M2/GDP 1971 38.6 12.1 32.9 101.9 1972 30.2 10.6 40.0 114.0 1973 34.6 10.7 29.5 95.6 1974 34.6 9.4 26.4 97.1 1975 32.0 9.1 30.7 107.4 1976 31.2 9.1 29.8 102.6 1977 30.0 9.3 33.0 106.6 1978 29.4 8.9 35.0 ]]5.3 1979 26.3 7.7 31.8 109.1 TABLE 2.10 Agreed Bank Deposit Rates (per cent per annum) Bank category Savings 7-day 3-month 6·month i2-month Category I 5 5 6 7 8 Category 2 5 5 6.25 7.25 8.25 Category 3 5 5 6.5 7.5 8.5 Category 4 5 5 6.75 7.75 8.75 Category 5 5 5 7 8 9 240 Finaneial Structures & Monetary Policies in S.E. Asia TABLE 2.11 Range of Variation for Lending Rates (per cent per annum) Year Best lending rate Inter-bank lending rate 1970 8.0 5.625- 9.375 1971 7.0 - 8.0 3.5 - 7.75 1972 7.0 2.875- 7.0 1973 7.0 - 9.75 3.5 -11.0 1974 9.0 -12.0 4.5 -17.5 1975 6.5 - 9.0 0.75 -10.5 1976 6.0 - 6.5 1.0 - 7.2.5 1977 4.75- 5.5 1.0 - 6.0 1978 4.75- 8.75 4.0 -12.5 1979 9.0 -14.5 7.0 -19.5 1980 (rllst 7 months) 10.0 -16.0 3.5 -10.5 Source: Hong Kong Exchange Banks Association andHong Kong Monthly Digest of Statistics.
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