System loan growth was 6%.
Banks’ loan growth in Singapore was 4-8% vs system loan growth of 6% YoY, with UOB and DBS’s growth trending slightly lower in 2Q17, according to Maybank Kim Eng.
"This could be partly attributed to a slight decline in their housing loan growth, but Singapore banks’ growth was still faster at 4-7% YoY vs system’s 4%. Recovery in Singapore’s property market will drive loan volumes. Margins, however, will stay tight in order to defend/gain market share," the analyst said.
Do you know more about this story? Contact us anonymously through this link.