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According to statistics published today (March 31) by the Hong Kong Monetary Authority, total deposits with authorised institutions increased by 3.8% in February 2006, with Hong Kong dollar and foreign currency deposits rising by 7.1% and 0.1% respectively. Within foreign currency deposits, renminbi deposits grew by 0.3% to RMB22.6 billion yuan in February.
Total loans and advances increased by 5.4% in February, with loans for use in Hong Kong and outside Hong Kong rising by 6.0% and 0.8% respectively. Analysed by currency, Hong Kong dollar loans increased while foreign currency loans registered a decline. As Hong Kong dollar deposits expanded more than Hong Kong dollar loans, the loan-to-deposit ratio decreased marginally to 82.1% in February.
On a seasonally adjusted basis, Hong Kong dollar M1 fell by 0.9% in February and by 13.6% from a year earlier. Unadjusted Hong Kong dollar M2 and M3 both rose by 6.0% during the month, and by 12.3% and 12.4% respectively on a year-on-year comparison.
For further enquiries, please contact:
Kevin Ip, Manager (Press), at 2878 1687 or
Thomas Chan, Senior Manager (Press), at 2878 1480
Ends/Friday, March 31, 2006
Issued at HKT 16:35
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