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Total deposits with authorised institutions fell 1.6% in January, with Hong Kong dollar deposits down 1.8%, the Monetary Authority says.
US dollar deposits fell 3.4%, while non-US dollar foreign-currency deposits grew 3.9%. Renminbi deposits rose 21%, to 40.4 billion yuan.
Total loans and advances rose 3.3% with loans for use in Hong Kong up 3.1%, while loans for use outside Hong Kong grew 4.5%. The Hong Kong dollar loan-to-deposit ratio rebounded to 74%.
On a seasonally adjusted basis Hong Kong dollar M1 rose 7.7% in January and 19.9% from a year earlier. Unadjusted Hong Kong dollar M3 dropped 1.4% during the month but rose 13.8% year on year.
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