Chart of the Day: Here's proof of Singapore banks' disappointing loan growth momentum

But LDR jumped to record 99%.

According to Barclays, the MAS April monetary statistics showed slowing loan growth momentum after a strong 1Q13, while the system loan to deposit ratio rose to 99%, another record high since 1999. 

Barclays also noted that as system liquidity tightens, they believe foreign banks will continue to drive pricing competition and margins for the sector will trend lower in the near-term. 

"Slower loan growth momentum: The MAS April monetary statistics showed moderating loan growth momentum in April, with loans rising by 0.7% m/m, down from a strong 6.2% q/q growth in 1Q13. System deposits (ACU+DBU) declined slightly by 0.3% m/m driven by a mild contraction of ACU deposits," Barclays said.

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