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Total deposits with authorised institutions grew 2.4% in May. The Monetary Authority said that of the total, Hong Kong dollar deposits and foreign currency deposits rose 3.1% and 1.6%. Within foreign currency deposits, renminbi deposits grew 2.6% to RMB26.2 billion yuan.
The month also saw total loans and advances expand 2.2%, with Hong Kong dollar and foreign currency loans growing 2.4% and 1.5%. Loans for use in and outside Hong Kong grew 2.1% and 2.4%.
Reflecting a smaller increase in loans relative to deposits, the Hong Kong dollar loan-to-deposit ratio fell to 73.3% at the end of May.
On a seasonally adjusted basis, Hong Kong dollar M1 grew 1.2% in May and rose 11.2% on a year earlier. Unadjusted Hong Kong dollar M2 and M3 both rose 2.8%. On a year-on-year comparison Hong Kong dollar M2 and M3 both grew 6.8%.
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