, Hong Kong

Deposits inch up by 0.6% in November 2021

Total loans and advances “remained virtually unchanged.”

Total deposits with authorised institutions climbed by 0.6% in November 2021, according to the Hong Kong Monetary Authority.

Of the total, Hong Kong dollar deposits slipped by 0.1%, whilst foreign currency deposits rose by 1.4%.

Total deposits and Hong Kong dollar deposits inched up by 4.2%% and 2.2%, respectively,  in the year to end-November, the HKMA said.

Renminbi deposits in Hong Kong also increased by 4.1% to RMB868.7b at end-November, whilst total remittance of renminbi for cross-border trade settlement reached RMB606.6b during the month compared to RMB498.7b in October.

Meanwhile, total loans and advances “remained virtually unchanged” in November but rose 4.7% in the year to end-November, HKMA said, noting that loans for use in Hong Kong including trade finance increased by 0.2%, whilst loans to be used outside Hong Kong declined by 0.5%.

Total loans and advances decreased by 0.3% in October.

The Hong Kong dollar loan-to-deposit ratio rose to 85.7% at the end of the month from 84.9% by end-October.

HKMA noted that the monthly monetary statistics “are subject to volatilities due to a wide range of transient factors, such as seasonal and IPO (initial public offering)-related funding demand as well as business and investment-related activities."

Follow the link for more news on

Join Hong Kong Business community
Since you're here...

...there are many ways you can work with us to advertise your company and connect to your customers. Our team can help you dight and create an advertising campaign, in print and digital, on this website and in print magazine.

We can also organize a real life or digital event for you and find thought leader speakers as well as industry leaders, who could be your potential partners, to join the event. We also run some awards programmes which give you an opportunity to be recognized for your achievements during the year and you can join this as a participant or a sponsor.

Let us help you drive your business forward with a good partnership!