Singapore banks' loan growth pegged to hit 8-10% in 2014

Housing loans seen to ease.

According to UOB Kay Hian, it expects Singapore banks to register loan growth of 8-10% in 2014.

Here's more from UOB Kay Hian:

Strong loan growth of about 15% in 2013 is partially driven by US$-denominated trade finance facilities for Chinese customers. Demand from these Chinese customers may moderate in 2015 as expectations of the US dollar depreciating against the renminbi will be reduced due to the eventual tapering of QE3.

We expect moderation in growth in housing loans in 2H14, which will be compensated by stronger growth in corporate loans. We expect stronger growth in corporate loans as global economy recovers and regional growth is sustained.

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