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."
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