Singapore's system loans inched up 1% in June

But Barclays reveals that system deposits were largely flat in June.

According to Barclays analyst Sharnie Wong, Singapore's loan growth momentum in June was strong with system (DBU+ACU) loans rising by 1% m/m and 5.2% ytd.

"Adjusting for a 1.9% m/m appreciation in the SGD against the USD, system loans rose by 1.5%. Meanwhile, system deposits were largely flat in June."