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Total deposits with authorised institutions grew 7.1% in September, the Monetary Authority says. Hong Kong dollar deposits rose 12.4% while foreign currency deposits grew 0.9%.
Hong Kong dollar demand deposits rose 35.2%, reflecting vigorous initial public offering activities and increased stock market turnover. Renminbi deposits dropped 3% to RMB27.5 billion.
Total loans and advances grew 9.8%, with both Hong Kong dollar and foreign currency loans increasing. Loans for use in Hong Kong and outside Hong Kong rose 10.6% and 5.9%. As Hong Kong dollar loans and deposits grew at roughly the same rate, the Hong Kong dollar loan-to-deposit ratio stood at 72.9%.
In the third quarter, loans for use in Hong Kong rose 5.8%. Analysed by economic uses, most types of loans expanded and lending to stockbrokers registered a strong rise of 11.9%.
On a seasonally adjusted basis, Hong Kong dollar M1 grew 4.5% in September and rose 14% from a year earlier. Unadjusted Hong Kong dollar M2 and M3 both rose 11.5%. On a year-on-year comparison, Hong Kong dollar M2 and M3 grew 28.4% and 28.3%.
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