Banks' loan growth hits 6.2% in September

Business loans growth jumped to 8.0% YoY, thanks to higher loans from general commerce.

The growth of loans from Singaporean banks hit 6.2% YoY in September, the Monetary Authority of Singapore (MAS) revealed.

Business loans growth also rose from 5.8% YoY in August to 8.0% YoY this month.

OCBC Treasury Research said the momentum lift came from general commerce, which grew 16.4% YoY, financial institutions, which grew 15.0%, and manufacturing, which grew from -0.1% to 11.1% YoY. Business services loans also continued to grow by 22.2% YoY, albeit lower than the 23.8% last month.

OCBC head of treasury and research Selena Ling said, "This is consistent with the resilient 3Q17 GDP growth cues seen in the region and the healthy ongoing manufacturing and trade activities. Domestic business confidence should also sustain into 4Q17 given the festive season pickup but may moderate slightly in 1Q18."

Meanwhile, consumer loans growth slowed down from 3.9% YoY in August to 3.6% YoY this month.

This is in line with the easing in housing/bridging loans growth.

"With the recent pickup in enbloc sales and interest in the private residential property market, it remains to be seen if the housing/bridging loans growth would moderate or maintain around the 4% handle," Ling said.

If you've been wondering whether SBR could work for your company — yes, probably.

A lot of the companies we partner with started as readers. They'd been following our coverage for a while, saw their own customers and competitors in it, and eventually asked the obvious question: could we do something with you? The answer is usually yes. The shape of it depends on what you're trying to do.

The options are broader than most people assume — thought leadership articles, sponsored content, industry summits across Southeast Asia, regional awards programmes, podcasts, and media placements in print and digital. Some partners use one channel; most use a mix. We figure out the right combination by starting with your brief, not with our rate card.

So if the question has been on your mind, here's the easy way to ask it.

We'll tell you honestly whether we can help, and how. It's a better use of everyone's time.

Book a meeting

| Or download the media kit (PDF)

240,000 senior readers quarterly in print Top 1,700 Singapore companies reached

7 markets across Southeast Asia