HKMA published monetary statistics on 30 Sep showing total deposits rose by 1.4% and loans grew by 0.3% in August 2026, while renminbi cross-border trade settlement remittances reached RMB1,537.6 billion.
This article was generated using SAMS, an AI technology by Timothy Loh LLP.
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Monetary Statistics Publication – August 2026
On Wed, 30 Sep, the Hong Kong Monetary Authority (""HKMA"") published its monetary statistics for August 2026. The following summary sets out the principal figures and observations contained in said release.
Deposit Trends
Total deposits with authorized institutions recorded a month-on-month increase of 1.4% in August 2026, comprising Hong Kong dollar deposits that rose by 2.2% and foreign currency deposits that grew by 0.8%. On an annual basis (year to end-August), total deposits expanded by 7.3%, while Hong Kong dollar deposits alone increased by 8.6%. It is noted that fluctuations in deposit levels are influenced by a broad spectrum of factors, including interest rate movements and fund-raising activities; accordingly, longer-term trends should be observed rather than drawing conclusions from single-month variations.
Renminbi Deposits and Cross-Border Settlements
Renminbi deposits in Hong Kong declined by 2.1% during August, standing at RMB1,101.5 billion as of end-August 2026. In terms of cross-border trade settlement activity, the total remittance of renminbi amounted to RMB1,537.6 billion in August, representing an increase from RMB1,383.7 billion recorded in July.
Lending Activity and Loan-to-Deposit Ratio
Total loans and advances increased by 0.3% month-on-month in August 2026, with a cumulative year-on-year growth of 7.0%. Specifically, loans for use within Hong Kong (inclusive of trade finance) rose by 0.4%, whereas loans designated for use outside Hong Kong remained virtually unchanged during the period. The Hong Kong dollar loan-to-deposit ratio declined to 69.3% at end-August from 70.7% at end-July, attributable to a faster growth rate in Hong Kong dollar deposits relative to Hong Kong dollar lending.
Money Supply Indicators
With respect to money supply aggregates, both Hong Kong dollar M2 and M3 increased by 2.1% on a month-on-month basis in August 2026, registering year-on-year growth of 9.9%. The seasonally-adjusted Hong Kong dollar M1 advanced by 3.5% during the month (up 4.7% year-on-year), partially reflecting investment-related activities. On an all-currency basis, total M2 and total M3 each grew by 1.4% in August, with both aggregates expanding by 11.0% on a comparative annual basis.
Interpretive Caveats
It is to be noted that monthly monetary statistics are inherently susceptible to volatility arising from transient factors, including seasonal funding demand and business or investment-related activities. Accordingly, due caution should be exercised in the interpretation of such figures. (Source: Hong Kong Monetary Authority, 30 September 2026)
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