Total RMB deposits up 2.2%

October 31, 2011

Renminbi deposits grew 2.2% to 622.2 billion yuan at the end of September, the Monetary Authority said today.
 
Total remittance of the renminbi for cross-border trade settlement amounted to 190.6 billion yuan, compared with 185.8 billion yuan in August.
 
Total deposits with authorised institutions decreased by 0.2%. As the contraction in savings deposits exceeded the expansion in demand and time deposits, Hong Kong-dollar deposits declined by 0.3%. Foreign-currency deposits also shrank by 0.1%.
 
Total loans and advances rose 0.9%. Loans for use in Hong Kong climbed by 0.1% and loans for use outside Hong Kong grew by 3.2%.
 
As Hong Kong-dollar loans grew while deposits contracted, the Hong Kong-dollar loan-to-deposit ratio rose to 86.6%, from 85.9% in August.