Bank loans in Singapore dropped to SGD 680.4 billion in June 2020 from SGD 685.3 billion in the previous month. It was the smallest bank lending since April last year, as both consumer loans (254.5 billion vs SGD 254.7 billion in May) and lending to businesses (SGD 425.8 billion vs SGD 430.6 billion) declined, amid coronavirus pandemic. Within businesses, loans fell for financial institutions (SGD 102.2 billion vs SGD 103.5 billion); general commerce (SGD 64.6 billion vs SGD 65.6 billion). On the other hand, loans increased for manufacturing (SGD 29.1 billion vs SGD 28.8 billion); business services (SGD 11.4 billion vs SGD 11.3 billion); transport, storage & communication (SGD 26.9 billion vs SGD 29.4 billion), and building and construction (SGD 148.1 billion vs SGD 146.6 billion). Meanwhile, lending to agriculture, mining & quarrying was unchanged (at SGD 2.3 billion).
Loans to Private Sector in Singapore averaged 224235.57 SGD Million from 1980 until 2020, reaching an all time high of 692846 SGD Million in February of 2020 and a record low of 16439.80 SGD Million in January of 1980. This page provides the latest reported value for - Singapore Loans to Private Sector - plus previous releases, historical high and low, short-term forecast and long-term prediction, economic calendar, survey consensus and news. Singapore Loans to Private Sector - data, historical chart, forecasts and calendar of releases - was last updated on August of 2020. source: Monetary Authority of Singapore
Loans to Private Sector in Singapore is expected to be 677633.00 SGD Million by the end of this quarter, according to Trading Economics global macro models and analysts expectations. Looking forward, we estimate Loans to Private Sector in Singapore to stand at 724871.00 in 12 months time. In the long-term, the Singapore Loans to Private Sector is projected to trend around 730794.00 SGD Million in 2021 and 746141.00 SGD Million in 2022, according to our econometric models.