Non-resident deposits were up 2.3%.
According to CLSA, DBU deposit balances grew 0.4% (Dec: flat). By currency: SGD balances grew, but this was partially offset by FCY outflows. By product: Fixed deposits were the main driver but CASA inflows were positive as well. By source: Inflow was from the government and non-resident sources; FIs/other residents were flat.
Here's more from CLSA:
Non-resident deposits were up 2.3% MoM (Dec: -1.2%).
The system LDR (DBU+ ACU) is 101.1% (Dec: 100.2%). SGD LDR flat at 85.9%; FCY LDR declined to 116.6% (Dec: 116.8%). DBU LDR was down to 103% (Dec: 103.5%). ACU LDR crept up to 99.1% (Dec: 98.9%)
As of 4Q16, bank classified and special mention exposures are at their highest levels since 1Q09. Credit card charge-off rates have been elevated since 3Q15, running at >6% vs average of 4.9% prior. Corporate insolvencies filed remains elevated, but individual bankruptcy applications in line with recent experience.
Do you know more about this story? Contact us anonymously through this link.