Singapore banks to face greater pressures: Fitch Solutions

Year-on-year growth in Singapore dollar-denominated loans by domestic banking units hovered between 5.4 per cent and 5.9 per cent in the first six months of 2018.
Year-on-year growth in Singapore dollar-denominated loans by domestic banking units hovered between 5.4 per cent and 5.9 per cent in the first six months of 2018. PHOTO: ST FILE

Research house turns cautious on outlook, citing latest property cooling measures and US-China trade tensions

Singapore's banking sector will face greater headwinds over the coming quarters from the double whammy of the latest property cooling measures and rising trade tensions between the US and China, a research house said yesterday.

Turning cautious on the sector's outlook, Fitch Solutions Macro Research has lowered its 2018 and 2019 loan growth forecasts for Singapore banks to 5 per cent and 4.5 per cent respectively, from 6.4 per cent and 6 per cent.

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A version of this article appeared in the print edition of The Straits Times on August 16, 2018, with the headline 'S'pore banks to face greater pressures: Fitch Solutions'. Print Edition | Subscribe