Plunging China trade loans hit Singapore banks
Singapore banks, which have enlarged their China credit exposure in recent years, were hit by a drop in billions of dollars of China trade-financing deals as mainland borrowing conditions became easier while offshore interest rates grew more expensive. The premium of the onshore six-month Shanghai interbank offered rate to the offshore six-month CNH Hong Kong […]
OCBC beats forecasts on Q1 loan growth surge, UOB roughly in line
Singapore’s Oversea-Chinese Banking Corp beat expectations with an 11 percent rise to record quarterly net profit, as the consolidation of its newly acquired Hong Kong lender Wing Hang Bank helped it post robust loan growth. But smaller rival United Overseas Bank booked a 1.6 percent rise in first-quarter profit, narrowly missing analysts’ forecasts. Despite a […]
DBS Q1 profit up 3 per cent to record $1.27 billion, beating estimates, on strong loan growth
DBS Group Holdings, Southeast Asia’s largest lender, posted first-quarter profit on Monday that beat analysts’ forecasts, helped by a double-digit rise in loan growth and strong wealth management fees. Loans grew by 11 per cent in the first quarter, defying market expectations of a slowdown, due to demand from regional corporate borrowing and secured consumer […]
Time to switch to a FIXED-RATE home loan?
The very real prospect of higher housing loan repayments is prompting many home owners to move to fixed-rate mortgages. These loans have rates that are set for a certain period, usually over two to five years, so customers have certainty about the level of their repayments. Many home owners are aware that the Singapore Interbank […]
Singapore bank lending down in February
Total bank lending in Singapore fell a little in February, with business loans continuing their slide for a third straight month. The overall sum lent to both consumers and businesses for the month was $603.5 billion, according to data released by the Monetary Authority of Singapore (MAS) yesterday. This is a 0.65 per cent drop […]
