Total deposits with authorised institutions grew for the sixth consecutive month by 1.4% in September. 

The Hong Kong Monetary Authority said the increase was due to a 1.8% rise in Hong Kong-dollar deposits and a 0.8% increase in foreign-currency deposits.

Total loans and advances shrank modestly by 0.1% in September. Of the total, loans for use in Hong Kong contracted by 0.3%, while loans for use outside Hong Kong rose by 1.5%. 

Analysed by currency, Hong Kong-dollar denominated loans and foreign-currency loans both recorded a small decline.

Loan-to-deposit ratio falls

As Hong Kong-dollar deposits increased while Hong Kong-dollar loans decreased, the Hong Kong dollar loan-to-deposit ratio fell to 83.2% in September.

Analysed by economic use, property-related loans decreased in the September quarter, while loans for stockbrokers rose notably.

Among other sectors, loans for manufacturing, transport and transport equipment, and financial concerns also registered some increases.

MI, M2, M3 all see rise

On a seasonally adjusted basis, Hong Kong dollar M1 grew by 4% during the month and by 23.8% from a year ago.