First-hand loan decreases 4%

According to the latest figures released by the Hong Kong Monetary Administration, the installment loan in April dropped 26.9% vs a rise of 47.7% in March. The decline can be credited to the fact that the loan by first-hand market diminished by 39%.

The installment loan default ratio set another new high to hit 1.37%. The proportion of loan 2.25% lower than preferential rate soared to 49.9%, reflecting the increasingly fierce competition.

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