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Total deposits with authorised institutions dipped 0.7% last month, with HK dollar deposits down 3.2% while foreign currency deposits rose 2.3%.
The Monetary Authority said the drop in HK dollar deposits followed a notable increase in October, which was attributable partly to placements related to initial public offerings.
Total loans and advances shrank 2.3%, with loans for use here and outside Hong Kong falling 2.4% and 1.6% respectively.
HK dollar loan-to-deposit ratio goes up
In terms of currency, HK dollar loans fell, while foreign currency loans rose slightly. As HK dollar deposits registered a larger fall than HK dollar loans, the HK dollar loan-to-deposit ratio rose to 82.7% in November.
On a seasonally adjusted basis, HK dollar M1 grew 4.4% and 29.9% over a year ago.
Unadjusted HK dollar M2 and M3 both fell 2.7%, but grew 3.9% and 3.7% respectively on a year-on-year comparison.
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