FINANCIAL SERVICES | Staff Reporter, Singapore

Banks to sustain loan growth until 2019

Growth for the said year is around 5-6%.

There is optimism in Singapore bank's loan growths in the coming years.

According to Maybank Kim Eng, this is due to the improved economic outlook of the country.

"Singapore’s property market has seen some recovery due to improved buyer sentiment, and the domestic economy has also started to benefit from trade-led growth recovery," analyst Ng Li Hiang said.

With this loan growth for the year is expected to go around 8-9% this year, 6% in 2018, and 5-6% in 2019.

"Banks continue to guide mid-single digit loan growth in FY17," the analyst said.

To recall, loans 6-11% YoY for Singapore banks, with OCBC posting a stronger growth than peers in the past quarter.

" Loan growth was generally broad-based across countries and industries. Loan growth from “Others” region (Australia, UK and US etc) rose 16-34% YoY, as companies continue to invest and expand their businesses in these countries. By sector, lending to Financial Institutions (FI) grew 22-39% YoY for OCBC and UOB," Ng explained.

Do you know more about this story? Contact us anonymously through this link.

Click here to learn about advertising, content sponsorship, events & rountables, custom media solutions, whitepaper writing, sales leads or eDM opportunities with us.

To get a media kit and information on advertising or sponsoring click here.