The deputy chief executive of Hong Kong’s de facto central bank has said it intends to remain “agile” this year to maintain financial stability in the face of credit risks and developing cyber threats.

Declining property values in the city’s commercial real estate sector have raised questions about the health of its banking sector, and the Hong Kong Monetary Authority (HKMA) has had to dismiss speculation that it considered establishing a “bad bank” to deal with non-performing loans (NPLs)