Hong Kong's banking sector remains resilient despite global economic uncertainty, Hong Kong Monetary Authority's Deputy Chief Executive Arthur Yuen said Wednesday.

Delivering the authority's year-end review, Yuen said the banking sector's total loans rose 20.2 percent and residential mortgage loans increased 8 percent last year. At the same time, deposits went up 10.6 percent.

However, Yuen urged the sector to monitor credit growth, asset quality, funding strategies, liquidity positions and risk management.

He said the local property market and European market development should also be closely watched.