- September’s 3-month SORA was up 1bps m-o-m to 3.70% and was 7bps higher than the 3Q23 average of 3.69%. 3-month HIBOR was down 3bps m-o-m to 4.95%.
- Singapore domestic loans dipped 6.71% y-o-y in August, below our estimates. The loan decline was slightly larger than in the previous month. The CASA balance dipped slightly to 18.8% (Jul 23: 18.9%).
- - Read this at SGinvestors.io -
3M-SORA growth flat; 3M-HIBOR continues decline in September
- Singapore interest rates continued to flatten in September. The 3-month SORA was up 1bps m-o-m to 3.70%. September’s 3-month SORA surged by 186bps y-o-y and was 7bps higher than 3Q23 3-month SORA average of 3.69% (2Q23: 3.62%).
- - Read this at SGinvestors.io -
Singapore loans growth continues to decline
- 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/ 2023-10-13
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)
