Hong Kong Deposits Grew In September
Total deposits with authorised institutions grew 2.2% in September, the Hong
Kong Monetary Authority announced on Tuesday. Of the total, Hong Kong dollar deposits and foreign currency deposits rose
by 3.3% and 0.9%. Within foreign currency deposits, renminbi deposits fell by
0.4% to RMB22.6 billion yuan. The month also saw total loans and advances grow 1.7%. Of the total, loans
for use in and outside Hong Kong rose by 0.9% and 7.3%, while Hong Kong dollar
loans grew 2.4% and foreign currency loans fell 0.6%. As the increase in Hong Kong dollar loans was smaller than the rise in Hong
Kong dollar deposits, the Hong Kong dollar loan-to-deposit ratio fell to 79.1%. On a seasonally adjusted basis, Hong Kong dollar M1 grew by 1.3% and rose by
4.7% on the same month last year. Unadjusted Hong Kong dollar M2 and M3 both
rose 3.1%. In a year-on-year comparison, Hong Kong dollar M2 and M3 both rose
by 16.3%. .
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