As of September 30, 2024, the Hong Kong Monetary Authority reported a 1.1% increase in total deposits for August 2024, with Hong Kong dollar deposits rising by 0.2% and foreign currency deposits by 2.0%. Over the year, total deposits grew by 5.0%, while Hong Kong dollar deposits rose by 1.5%. However, renminbi deposits fell by 4.1%, and cross-border renminbi trade settlements decreased from July. Total loans and advances increased by 0.3% in August but declined by 2.7% year-over-year, with a drop in the Hong Kong dollar loan-to-deposit ratio to 79.3%. M2 and M3 measures of money supply saw modest increases, although M1 experienced a decline. The report emphasizes that monthly figures can be volatile and should be viewed within a broader context.
Resources: https://www.hkma.gov.hk/eng/news-and-media/press-releases/2024/09/20240930-8/
