Total deposits with authorized institutions in Hong Kong rose 0.9 percent in October, the Hong Kong Monetary Authority said Monday.
During the month, foreign-currency deposits rose 1.3 percent, while Hong Kong-dollar deposits grew 0.4 percent as demand and savings deposits were increasing, said the authority.
Accounting for around 2.1 percent of foreign-currency deposits, Renminbi deposits in Hong Kong dipped 1.6 percent to 57.3 billion yuan ($8.39 billion) at the end of October.
Total loans and advances shrank by 1 percent. Loans for use in Hong Kong fell 1.5 percent, but loans for use outside Hong Kong grew 1.1 percent.
As Hong Kong-dollar loans dropped while deposits grew, the Hong Kong-dollar loan-to-deposit ratio fell from 70.2 percent at the end of September to 69.1 percent at the end of October.
Seasonally adjusted Hong Kong-dollar M1 dropped 4.1 percent in October but increased 49.9 percent on a year earlier. Unadjusted Hong Kong-dollar M3 climbed 0.5 percent during the month and expanded 14.2 percent year-on-year.
