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Total deposits with authorised institutions grew 5.6% in May, as an 11.5% rise in Hong Kong dollar deposits more than offset a decline of 1.2% in foreign currency deposits, the Monetary Authority says.
Within foreign currency deposits, renminbi deposits rose 0.7% to 22.9 billion yuan in May.
Total loans and advances expanded by 8.1% in May, with loans for use in and outside Hong Kong rising by 9.1% and 0.5%.
Hong Kong dollar and foreign currency loans both registered a rise. As Hong Kong dollar deposits grew proportionally more than Hong Kong dollar loans, the loan-to-deposit ratio fell further to 78.3% in May.
On a seasonally adjusted basis, the Hong Kong dollar M1 fell 0.6% in May and 3.4% from a year earlier. Unadjusted Hong Kong dollar M2 and M3 expanded by 10.6% and 10.5% during the month, and by 27.0% year-on-year.
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