Excluding the effects of IPO activities, total deposits and Hong Kong dollar deposits with authorized institutions would have dropped by 1.2 percent and 2.2 percent respectively, in November 2020. Hong Kong dollar deposits increased by 9.8 percent. But in November, Hong Kong dollar deposits declined by 12.6 percent and overall foreign currency deposits edged down by 0.2 percent. As these IPO activities ended and customers repaid subscription loans, total loans and advances fell by 8.7 percent in November, HKMA said. The Hong Kong dollar loan-to-deposit ratio dropped to 82.7 percent at the end of November from 84.0 percent at the end of October, as Hong Kong dollar deposits decreased at a slower pace than Hong Kong dollar loans.

Source: The Standard December 31, 2020 12:11 UTC