bank lending

June marks the fourth month of decline in Singapore’s bank lending as both business and consumer loans took a hit from the Covid-19 health-turned-economic crisis.

Quoteworthy: “Everybody is scared, including the biggest financial institutions.” - Wang Jiangyu

“The risk remains that overall bank loans growth could actually contract in the coming months if there is no snapback in consumer demand and business capital expenditure intentions,” says OCBC’s Ling.

“With the start of the circuit breaker to combat Covid-19, this has exerted a significant dampening effect on private consumer spending and in turn consumer loans as well,” observes Selena Ling, head of treasury research and strategy at OCBC Bank.

SINGAPORE (July 31): Singapore's total bank lending in June rose 7.6% compared to a year earlier, helped by increases in housing and bridging  loans, central bank data showed on Monday.

SINGAPORE (Jan 31): Singapore's total bank lending in December rose 1.1% from November, on the back of a rise in loans to the building and construction sector, central bank data showed on Tuesday.

SINGAPORE (Dec 30): Singapore total bank lending in November rose 0.4% from October, due to a rise in general commerce loans, central bank data showed on Friday.