- January’s 3-month SORA was down by 3bps m-o-m to 3.05%, the first decline since August 2021.
- Singapore domestic loans dipped 0.30% y-o-y in December, below our estimates, while Hong Kong’s domestic loans declined 2.99% y-o-y in December. CASA balance dipped slightly to 20.4%.
- - Read this at SGinvestors.io -
- UOB: S$1.59bn, and
- OCBC: S$2.03bn.
3M-SORA and 3M-SIBOR growth flattens in January
- - Read this at SGinvestors.io -
- The SORA m-o-m decrease was the first since August 2021 and came after 8 months of double-digit m-o-m growth, while the SIBOR m-o-m increase was 22bps lower than the previous month’s increase of 23bps.
- January’s 3-month SORA improved by 285bps y-o-y and was 37bps higher than the 4Q22 3-month SORA average of 2.68%.
- January’s 3-month SIBOR improved by 381bps y-o-y and was 29bps higher than 4Q22 3-month SIBOR average of 3.96%.
Singapore loans growth declined in December
- Read more at SGinvestors.io.
