Hong Kong's total deposits with authorized institutions fell 0.5 percent year on year in February, but Renminbi deposits grew 10 percent to 407.7 billion yuan (about 62.15 billion U.S. dollars), the Monetary Authority of Hong Kong said in a statement on Thursday.
The total remittance of Renminbi, the Chinese currency, for cross-border trade settlement amounted to 87.4 billion yuan, it said.
Deposits of foreign currency as a whole rose 0.8 percent in February. While Hong Kong dollar deposits shrank 1.6 percent, the Hong Kong Monetary Authority said.
Total loans and advances rose 1.4 percent year on year, with loans for use in Hong Kong growing 1.2 percent and loans for use outside the city rising 2.3 percent. The Hong Kong-dollar loan-to-deposit ratio rose to 81 percent from 79.3 percent in January as Hong Kong-dollar loans expanded while deposits contracted.
