Total deposits with authorised institutions rose 8.2% in October, the Monetary Authority says. Hong Kong dollar deposits grew 9.5%, while foreign-currency deposits rose 6.7%.

Hong Kong dollar demand deposits rose 11.9%, reflecting vibrant initial public offering activities. Renminbi deposits grew 2.7%, to RMB28.3 billion.

Total loans and advances rose 4.8% as both Hong Kong dollar and foreign-currency loans increased. Loans for use in Hong Kong rose 5.3%, while those for outside Hong Kong rose 2%. The Hong Kong dollar loan-to-deposit ratio edged down to 70.2% at the end of October.

On a seasonally adjusted basis, Hong Kong dollar M1 grew 8.2% in October and 20.2% from a year earlier. Unadjusted Hong Kong dollar M2 and M3 both rose 8.9%. On a year-on-year comparison, Hong Kong dollar M2 and M3 grew 40.3% and 40%.