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March 31 Jul 2018 – 10:20 AM
UPDATED Tue, 31 Jul 2018 – 11:46
Bank credits in Singapore have been growing at their fastest pace in a year since November, under 39 Impulse of a sharp increase in business loans, preliminary data from the Monetary Authority of Singapore showed on Tuesday.
Loans from the national banking unit – which covers loans in all currencies, but mainly reflects loans in Singapore dollars – amounted to 673 billion Singaporean dollars in June, up 5.9 % compared to the previous year. "This exceeded our expectations for moderation in June," said Selena Ling, head of research and treasury strategy at OCBC, highlighting the dynamism of lending to financial institutions, business services, building and trade general.
Indeed, even the transportation and storage sectors – which would include oil and gas companies – saw loan growth rebound 0.8% in one year in June, compared with 0.8% year-on-year. . In 1965, business loans rose 7% in June to $ 408 billion last year, the fastest gain since November.
Consumer credit in June rose 4.3% over last year to $ 265 billion, as growth fell from the 5% gain in May.
Ms. Ling said: the latest real estate cooling measures in early July, mortgages could see a break in July before further easing over the next few months. "
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