Published:
Chart of the Day: Check out Singapore banks' lacklustre system loan growth
It continued to register negative growth for the past 11 months.
Singapore banks have been facing weak loan growth for the past few months now. According to Maybank KimEng, system loan growth in November was at -1.2%.
While this is an improvement from the previous month's -2.2%, overall outlook remains challenging.
"Corporate loan growth at -1.9% (Oct: -3.6%) and consumer loan growth slid to +0.7% (Oct: +1.7%). We estimate ~1-2% loan growth in FY17E for Singapore banks as we think: 1) lacklustre lending environment and 2) banks are likely to be careful in their lending and will work with customers whom they are familiar with," the firm said.
Read Here
Advertise
Sign Up
