- 3M-SORA was up 1bp m-o-m to 3.61%, 3M-HIBOR was up 82bps m-o-m to 4.41% in May 23. HIBOR is down 88bps this year.
- Singapore domestic loans dipped 5.86% y-o-y in Apr 23, below our estimates. Loans previously contracted at this magnitude was in 2016. The CASA balance dipped slightly to 18.8% (Mar 23: 18.9%).
- - Read this at SGinvestors.io -
3M-SORA growth flattens; 3M-HIBOR recovers in May 23
- - Read this at SGinvestors.io -
- Hong Kong interest rates surged and reversed the decline from the previous few months. The 3M-HIBOR was up 82bps m-o-m to 4.41%; the m-o-m increase was a reversal of the m-o-m decline of 21bps in April 2023. April’s 3M-HIBOR improved by 357bps y-o-y and was 59bps higher than 1Q23 3M-HIBOR average of 3.82%.
Singapore loans growth decline steepened further in Apr 23
- Read more at SGinvestors.io.
Above is the excerpt from report by Phillip Securities Research.
Clients of Phillip Capital may be the first to access the full report in PDF @ https://www.stocksbnb.com/.
Glenn Thum Phillip Securities Research | https://www.stocksbnb.com/ 2023-06-09
More reports on banking & finance sector:
Analyst Reports on Singapore Banking & Finance Sector
Read also:
Analyst Reports on DBS Group
Analyst Reports on OCBC Bank
Analyst Reports on United Overseas Bank (UOB)
