- June’s 3-month SORA was up 3bps m-o-m to 3.64% and 3-month HIBOR was up 43bps m-o-m to 4.84%.
- Singapore domestic loans dipped 4.88% y-o-y in May, below our estimates. The loan decline has slightly reversed from the previous month. CASA balance is flat at 18.8% (Apr23: 18.8%), the first in 14 months.
- - Read this at SGinvestors.io -
3M-SORA growth flattens; 3M-HIBOR continues recovery in June
- - Read this at SGinvestors.io -
- Hong Kong interest rates continued to surge and reversed the decline from 1Q23. The 3-month HIBOR was up 43bps m-o-m to 4.84%, lower than May’s m-o-m increase of 82bps but this is the highest the 3-month HIBOR has reached for 1H23. June’s 3-month HIBOR improved by 359bps y-o-y and was 56bps higher than 2Q23 3-month HIBOR average of 4.28%.
Singapore loans growth decline flattened in May
- 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/ 2023-07-03
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)
