Hong Kong’s banking system held up well amid the fifth wave of Covid outbreak, as deposits and loans increased during the first quarter, according to data from the Hong Kong Monetary Authority (HKMA). The amount of Hong Kong dollars deposited into the city’s banks swelled to HK$7.58 trillion (US$965 billion) by the end of March, up 2.2 per cent from the beginning of the year and 1 per cent from a year earlier. Total deposits – which include Hong Kong dollars, US dollars and other currencies – stood at HK$15.35 trillion, rising 1.1 per cent in the quarter and 4.5…