Loan growth in Singapore is expected to fall to five percent for the whole of 2015, but this could decline further next year, reported Channel NewsAsia citing experts.
“Between 2013 and 2015, while domestic growth has slowed down, overseas growth was able to compensate for slowness in domestic growth. But now, with China-led regional slowdown, even the overseas loan expansion has come down as well. So on the whole, we’ll be seeing slower loans growth of between 3 and 5 percent for 2016,” said Standard & Poor’s Financial Services Ratings Director, Ivan Tan.
To read the full article, please visit Experts Forecast Lower Loan Growth
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