Hong Kong savings deposits expand in April
(4 June 2015 – Hong Kong) Total deposits with authorised Hong Kong institutions increased by 0.9 percent in April, according to statistics published by the Hong Kong Monetary Authority (HKMA).
As the expansion in savings deposits exceeded the decrease in demand and time deposits, Hong Kong-dollar deposits rose by 1.5 percent during the month.
Overall foreign-currency deposits grew by 0.4 percent.
Renminbi (RMB) deposits in Hong Kong increased by 0.3 percent to RMB955.2 billion (A$201.8 billion) at the end of April.
The total remittance of RMB for cross-border trade settlement amounted to RMB484.2 billion in April, compared with RMB616.2 billion in March.
Total loans and advances went down by 3.0 percent in April.
Excluding the initial public offering (IPO) loans straddling the end of March, total loans and advances would have decreased by 0.3 percent in April.
Among the total, loans for use in Hong Kong (including trade finance) declined by 4.8 percent from a month ago, while loans for use outside Hong Kong grew by 1.3 percent.
As Hong Kong-dollar deposits increased while Hong Kong-dollar loans decreased, the Hong Kong-dollar loan-to-deposit ratio declined to 78.1 percent at the end of April from 83.1 percent at the end of March.
Seasonally adjusted Hong Kong-dollar M1 rose by 9.4 percent in April and expanded by 15.8 percent year on year.
Seasonally unadjusted Hong Kong-dollar M3 increased by 1.3 percent during the month and grew by 14.2 percent from a year earlier.
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