Fastest growing Singapore bank loans for seven months

Ptoto to 彭博

Monetary Authority of SingaporeIn July this year, according to preliminary data with commercial loans increased significantly, the Singapore bank lending growth compared with the same period last year growth was the fastest.

In June through domestic bank loans – including all monetary loans, but mainly reflect the Singapore dollar loans – loans of $673 billion, 5.9% more than last year.

Oversea-chinese banking financial chief research and strategy oversea-chinese banking corp said, “this is beyond our expectations of moderate adjustment in June,” he pointed out that financial institutions, business services, building and construction as well as the general commercial loans are strong.

In fact, even including oil and gas companies, the department of transportation and storage, loan growth will also rose 0.8% in June, in contrast to the contraction of 0.8% year-on-year in May. She added.

In general, the commercial loan growth of 7% in June, to $408 billion, this is the fastest increase since last November.

June consumer loans than the same period last year growth of 4.3%, to $265 billion, compared with slow growth rate from 5% in May.

Ocbc ms ling said: “given the latest property cooling measures in early July, mortgage may showed a sharp rise in July, then slow further in the next few months.”


The article source:Singapore bank lending in June grows at fastest pace in 7 months



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