, Hong Kong
105 views
/Hong Lin from Unsplash

HKMA reports 2.2% rise in total bank deposits

Total remittance of RMB for cross-border trade settlement saw $176b.

The total deposits of the Hong Kong Monetary Authority’s (HKMA) authorised institutions rose by 2.2% in April 2024.

Within this total, Hong Kong dollar deposits increased by 0.5%, while foreign currency deposits grew by 3.7%.

Over the year ending in April, total deposits increased by 2.1%, with Hong Kong dollar deposits up by 0.7%.

Renminbi deposits in Hong Kong experienced a significant increase of $151.65b (RMB1,088.2b) by the end of the month. This increase primarily reflects corporate fund flows. 

Meanwhile, the total remittance of renminbi for cross-border trade settlement amounted to $175.98b (RMB1,257.0b) in April, slightly higher compared to $174.78b (RMB1,248.4b) in March.

Total loans and advances decreased by 1.0% in April and decreased by 2.0% in the year ending April.

Among the total, loans for use in Hong Kong (including trade finance) decreased by 0.6%, while loans for use outside Hong Kong decreased by 2.3% in April.

The Hong Kong dollar loan-to-deposit ratio decreased to 82.1% at the end of April from 83.2% at the end of March, primarily due to an increase in Hong Kong dollar deposits coupled with a decrease in Hong Kong dollar loans.

($1.00 = RMB7.24)

Follow the link for more news on

Join Asian Banking & Finance community
Since you're here...

...there are many ways you can work with us to advertise your company and connect to your customers. Our team can help you dight and create an advertising campaign, in print and digital, on this website and in print magazine.

We can also organize a real life or digital event for you and find thought leader speakers as well as industry leaders, who could be your potential partners, to join the event. We also run some awards programmes which give you an opportunity to be recognized for your achievements during the year and you can join this as a participant or a sponsor.

Let us help you drive your business forward with a good partnership!