Published:
Singapore banks may suffer business credit demand slump in 2013
But there's hope in business loans.
According to CIMB, in 2012, robust mortgage demand helped support loan volumes. In view of further policy headwinds, mortgage demand should continue to moderate throughout the year.
"We think that business loans will be the key growth driver in 2013. However, in view of macroeconomic uncertainties, we are unlikely to see robust business credit demand growth this year," CIMB added.
On the flip side, the NIM outlook is turning positive as competition appears to be easing on both lending and funding fronts. "This could provide some respite to net interest income," it said.
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