Total deposits with authorised institutions grew for the second consecutive month by 1.7% in September, according to statistics published today by the Monetary Authority.

Of the total, Hong Kong dollar and foreign currency deposits rose 1.5% and 1.8%. Within foreign currency deposits, renminbi deposits amounted to RMB7.7 billion in September, compared with RMB7.5 billion in August.

Total loans and advances expanded 0.8%. Loans for use in Hong Kong rose 1%, while those for use outside Hong Kong fell 0.7%.

Analysed by currency, Hong Kong dollar and foreign currency loans both grew. As Hong Kong dollar deposits rose more than Hong Kong dollar loans, the loan-to-deposit ratio fell to 85.4%.

Analysed by economic uses, lending grew in most sectors on a quarter-on-quarter comparison. In particular, transport-related loans, lending to wholesale and retail trade, and trade financing registered notable increases. On the other hand, property-related loans fell moderately during the quarter.

On a seasonally adjusted basis, Hong Kong dollar M1 fell 1.3% in September, but expanded 24.1% on a year ago. Unadjusted Hong Kong dollar M2 and M3 rose 1.5% and 1.4% during the month, and 0.7% and 0.6% over a year earlier.