Hong Kong Deposits Rise in February, While Loans See Slight Decrease, Reports Monetary Authority

Monetary statistics for February 2025

The following is issued on behalf of the Hong Kong Monetary Authority:

According to statistics published today (March 31) by the Hong Kong Monetary Authority, total deposits with authorized institutions increased by 1.3 per cent in February 2025. Among the total, Hong Kong dollar deposits and foreign currency deposits increased by 2.1 per cent and 0.6 per cent respectively in February. In the first two months of 2025, total deposits and Hong Kong dollar deposits increased by 2.7 per cent and 3.4 per cent respectively. Renminbi deposits in Hong Kong increased by 4.9 per cent in February to RMB1,035.3 billion at the end of February, mainly reflecting fund flows of corporates. The total remittance of renminbi for cross-border trade settlement amounted to RMB1,064.1 billion in February, compared with RMB1,377.4 billion in January. It should be noted that changes in deposits are affected by a wide range of factors, such as interest rate movements and fund-raising activities. It is therefore more appropriate to observe the longer-term trends, and not to over-generalise fluctuations in a single month.

Total loans and advances decreased by 0.2 per cent in February, and decreased by 0.5 per cent in the first two months of 2025. Among the total, loans for use in Hong Kong (including trade finance) and loans for use outside Hong Kong decreased by 0.2 per cent and 0.4 per cent respectively in February. The Hong Kong dollar loan-to-deposit ratio decreased to 73.5 per cent at the end of February from 75.7 per cent at the end of January, as Hong Kong dollar deposits increased while Hong Kong dollar loans decreased.

Hong Kong dollar M2 and M3 both increased by 1.8 per cent in February, and both increased by 6.8 per cent when compared to a year ago. The seasonally-adjusted Hong Kong dollar M1 increased by 4.4 per cent in February and increased by 5.3 per cent compared to a year ago, reflecting in part investment-related activities. Total M2 and total M3 both increased by 0.9 per cent in February. Compared to a year earlier, total M2 and total M3 both increased by 10.4 per cent.

As monthly monetary statistics are subject to volatilities due to a wide range of transient factors, such as seasonal and IPO-related funding demand as well as business and investment-related activities, caution is required when interpreting the statistics.

Fraudulent website and internet banking login screen related to The Hongkong and Shanghai Banking Corporation Limited

The following is issued on behalf of the Hong Kong Monetary Authority:

The Hong Kong Monetary Authority (HKMA) wishes to alert members of the public to a press release issued by The Hongkong and Shanghai Banking Corporation Limited relating to a fraudulent website and an internet banking login screen, which have been reported to the HKMA. A hyperlink to the press release is available on theHKMA website.

The HKMA wishes to remind the public that banks will not send SMS or emails with embedded hyperlinks which direct them to the banks' websites to carry out transactions. They will not ask customers for sensitive personal information, such as login passwords or one-time password, by phone, email or SMS (including via embedded hyperlinks).

Anyone who has provided his or her personal information, or who has conducted any financial transactions, through or in response to the website or login screen concerned, should contact the bank using the contact information provided in the press release, and report the matter to the Police by contacting the Crime Wing Information Centre of the Hong Kong Police Force at 2860 5012.