Hong Kong Monetary Authority reports May deposits rose 2.3% and loans increased 1.4%

The Hong Kong Monetary Authority published May 2026 monetary statistics showing continued growth in deposits and lending at authorized institutions. Total deposits increased by 2.3% in the month, with Hong Kong dollar deposits up 1.2% and foreign currency deposits up 3.2%, mainly reflecting corporate fund flows. Renminbi deposits in Hong Kong rose 5.3% to RMB1,134.7 billion at the end of May. Over the 12 months to end-May, total deposits increased 4.8% and Hong Kong dollar deposits increased 4.4%. Total loans and advances increased by 1.4% in May and were up 5.0% from a year earlier, with both loans for use in Hong Kong, including trade finance, and loans for use outside Hong Kong rising 1.4% in the month. The Hong Kong dollar loan-to-deposit ratio fell to 71.0% at end-May from 71.6% at end-April because Hong Kong dollar deposits grew faster than Hong Kong dollar loans. Hong Kong dollar M2 and M3 each rose 1.1% in May, while total M2 and total M3 each increased 2.4%. Renminbi remittances for cross-border trade settlement totaled RMB1,129.6 billion in May, down from RMB1,214.6 billion in April. The authority noted that monthly monetary statistics can be volatile and should be interpreted with caution given the effect of rates, funding demand, fundraising activity, and business and investment flows.