Total deposits slightly edge down by 0.1% in August
Meanwhile, total loans and advances increased by 0.3% in the same period.
Total deposits with authorised institutions decreased by 0.1% in August 2021, the Hong Kong Monetary Authority reported.
Hong Kong dollar deposits declined by 0.3%, whilst overall foreign currency deposits increased by 0.2%. In the year to end-August, total deposits and Hong Kong dollar deposits grew by 2.7% and 2.0%, respectively. Renminbi deposits in Hong Kong increased by 2.7% to RMB 842.7b at the end of August.
Total loans and advances increased by 0.3% in August and grew by 4.6% in the year to end-August. Loans for use in Hong Kong (including trade finance) and loans for use outside Hong Kong increased by 0.1% and 0.8%, respectively. The Hong Kong dollar loan-to-deposit ratio increased to 84.2% at the end of August from 83.7% at the end of July, as Hong Kong dollar deposits decreased while Hong Kong dollar loans increased.
Monthly monetary statistics are subject to volatilities due to a wide range of transient factors, such as seasonal and IPO-related funding demand, as well as business and investment-related activities.