Total deposits rose 1.3% in July, with a 1.7% and 0.8% increase in Hong Kong-dollar and foreign currency deposits, the Monetary Authority says.

Meanwhile, the 5% growth of total loans and advances was attributed to the 3.8% and 10.3% increase of loans for use in Hong Kong and elsewhere separately.

As Hong Kong-dollar loans increased at a faster rate than deposits, the loan-to-deposit ratio climbed from 76.4% in May to 77.7% in June.

Seasonally adjusted Hong Kong-dollar M1 declined by 2.6% in June but grew by 15.3% year on year. Unadjusted Hong Kong-dollar M3 increased by 1.5% during the month and expanded by 3.1% on a year earlier.