- June’s 3-month SORA was down 1bp m-o-m to 3.67% but 1bp higher than the 2Q24 average. 3-month SORA has been hovering around the 3.6% range since Jan 2024. 3-month HIBOR was up 8bps m-o-m in June to 4.74%, following the increase of 13bps in May.
- Singapore domestic loans were flattish and dipped 0.3% y-o-y in May, slightly reversing the growth from the previous two months. We expect low-single-digit growth for 2024 as loan growth is expected to continue to be positive going into 2H24. The CASA balance dipped slightly to 18.1% (Apr24: 18.3%).
- - Read this at SGinvestors.io -
- - Read this at SGinvestors.io -
3-month SORA flat and 3-month HIBOR continues growth
- 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 | http://www.poems.com.sg/ 2024-07-15
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