Total deposits with authorised institutions rose 0.3% in July, with Hong Kong dollar deposits dropping 0.4%, the Monetary Authority says.

Foreign-currency deposits rose 1.1%. Renminbi deposits fell for the second consecutive month, by around 1%, to RMB77.1 billion.

Total loans and advances rose 1.6% as loans for use in Hong Kong grew 1.8% and loans for use outside Hong Kong increased 0.9%. The Hong Kong dollar loan-to-deposit ratio rose to 83.2%.

On a seasonally adjusted basis, Hong Kong dollar M1 dropped 2.3% in July but grew 10.7% over a year earlier. Unadjusted Hong Kong dollar M3 fell 0.4% during the month but rose 1.4% year on year.