Total deposits rose 1.8% in July, with a 1.1% and 2.5% rise in Hong Kong-dollar and foreign-currency deposits, the Monetary Authority says. 

Accounting for 3.9% of foreign-currency deposits, renminbi deposits grew 15.6% to RMB103.7 billion, reflecting the expanding scope of the renminbi banking business in Hong Kong.

Total loans and advances rose 1.9% in July. Loans for use in Hong Kong grew by 1.8% and loans for use outside Hong Kong rose 2%. As Hong Kong-dollar loans increased at a slower rate than deposits, the Hong Kong-dollar loan-to-deposit ratio dropped to 77.3% at the end of July from 77.7% at the end of June.

Seasonally adjusted Hong Kong-dollar M1 grew 3.8% in July and rose 12.5% year on year. Unadjusted Hong Kong-dollar M3 increased by 1.2% during the month and expanded by 4.3% on a year earlier.