FINANCIAL SERVICES | Staff Reporter, Hong Kong

Lending spree: Loans and advances up 1.5% in July

Loans for use in Hong Kong rose by 0.7% compared to June 2011.

Meanwhile loans for use outside Hong Kong increased by 4.3%, according to the Hong Kong Monetary Authority.

“As deposits increased at a faster pace than loans, the Hong Kong-dollar loan-to-deposit ratio declined to 83.7% at the end of July from 84.2% at the end of June,” said HKMA.

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