Cash-Rich Hong Kong Lenders Fight for Mortgage Business: Chart

The Bank of East Asia Ltd. Chairman and Chief Executive Officer David Li Attends Results News Conference

Pedestrians walk past a Bank of East Asia Ltd. (BEA) branch in Hong Kong, China, on Monday, Feb. 15, 2016.

Photographer: Xaume Olleros/Bloomberg

Excess bank liquidity in Hong Kong remains close to a record high, giving lenders scope to further reduce mortgage rates to attract borrowers amid a housing slump. Bank of East Asia Ltd., Standard Chartered Plc and OCBC Wing Hang Bank Ltd. are offering home loans as low as the Hong Kong interbank lending rate plus 1.6 percent. The balance of funds in the banking system reached an unprecedented HK$426 billion ($55 billion) on Nov. 4.

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