UOB’s loan growth hit 2.6%.
This chart from DBS showed the loan growth movement of Singapore major banks with UOB leading at 2.6%. Meanwhile, loan growth at DBS and OCBC reached 1.3% and 0.4%, respectively.
According to DBS, loan growth for 2019 could come between 4-6% as it will be supported by drawdowns by developers in relation to the enbloc transactions, as well as other deal-related pipelines.
They also noted that Q1 2019 loan growth is likely to be strong, outpacing industry loan numbers.
“Beyond FY19F, we expect opportunities arising from Urban Redevelopment Authority’s (URA) newly announced draft master plan, as well as $9b-expansion by Singapore’s two integrated resorts in rejuvenating activities in the economy, alongside loan growth,” DBS said.
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