, Hong Kong
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Hong Kong’s total loans, deposits fall in January

This reflects fund outflows from corporates, says the Hong Kong Monetary Authority.

Total deposits in Hong Kong’s authorized institutions declined by 0.6% in January, according to data from the Hong Kong Monetary Authority published on 29 February.

Hong Kong dollar deposits and foreign currency deposits decreased by 0.3% and 0.8%, respectively, during the month. This reflects fund outflows from corporates, the HKMA said.

Total remittance of renminbi for cross-border trade settlements amounted to RMB1.4t in January, higher than the RMB1.27t in December 2023.

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Total loans extended by financial institutions in Hong Kong fell by 0.8% in January, according to data from the Hong Kong Monetary Authority. 

Loans for use in Hong Kong– including trade finance– decreased by 1.1% during the same month. Loans for use outside the city remained “virtually unchanged,” the HKMA said in a press release.

The dollar loan-to-deposit ratio stayed at 84.2% at end-January, with Hong Kong dollar loans and deposits decreasing at the same pace, authorities said.

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