Total deposits with authorised institutions grew for the third consecutive month by 0.2% in June. The increase was attributable to a 0.9% rise in Hong Kong dollar deposits, which exceeded a decline of 0.6% in foreign currency deposits.

Total loans and advances rose 0.1% in June. Of the total, loans for use in Hong Kong were virtually unchanged during the month, while loans for use outside Hong Kong increased 1%.

Hong Kong dollar denominated loans and foreign currency loans both recorded a small rise. As Hong Kong dollar deposits increased more than the Hong Kong dollar loans, the Hong Kong dollar loan-to-deposit ratio fell slightly to 86.7% in June.

Analysed by economic use, property-related loans decreased in the June quarter, while trade financing rose notably.

On a seasonally adjusted basis, Hong Kong dollar M1 grew 4.9% during the month and 18.8% over a year ago. Unadjusted Hong Kong dollar M2 and M3 both rose 0.9% during the month and 0.5% from a year ago.