|
Total deposits with authorised institutions dropped 2% in December, while Hong Kong-dollar deposits saw a 1% fall as the contraction in demand and savings deposits exceeded the increase in time deposits, the Monetary Authority says.
Foreign-currency deposits also fell 3.1% while renminbi deposits, which accounted for 2.4% of foreign-currency deposits, grew 3.9% to RMB62.7 billion at the end of the month.
Total loans and advances shrank 0.1%. Loans for use in Hong Kong dropped 0.4% while loans for use outside Hong Kong rose 1.1%. As Hong Kong-dollar loans expanded while deposits contracted, the Hong Kong-dollar loan-to-deposit ratio increased to 71.2% at the end of December from 69.9% at the end of November.
Seasonally adjusted Hong Kong-dollar M1 fell 0.2% in December but increased 36.5% over last year. Unadjusted Hong Kong-dollar M3 shrank 0.8% during the month but expanded 10.5% year on year.
In last year's final quarter, loans for use in Hong Kong dropped 0.7%. Lending to financial concerns and stockbrokers contracted, and growth in residential mortgage loans slowed. Trade financing loans continued to expand along with increasing trade flows.
Go To Top
|
