Bank loans in Singapore declined to SGD 675.6 billion in October 2020 from SGD 677.5 billion in the previous month. It was the smallest bank lending since February last year, as lending to businesses decreased (SGD 418.4 billion vs SGD 421.3 billion in September) while consumer loans increased (257.2 vs SGD 256.2 billion), amid the coronavirus pandemic. Within businesses, loans fell for financial institutions (SGD 97 billion vs SGD 99.4 billion); general commerce (64.3 billion vs SGD 64.6 billion); manufacturing (SGD 25.9 billion vs SGD 26.1 billion), and business services (SGD 11.3 billion vs SGD 11.4 billion). Meanwhile, loans increased for transport, storage & communication (SGD 26.3 billion vs SGD 26.2 billion). On the other hand, loans were unchanged for both agriculture, mining & quarrying (at 2.3 billion) and building and construction (at SGD 150.9 billion). source: Monetary Authority of Singapore
Loans to Private Sector in Singapore averaged 227013.19 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 December of 2020.
Loans to Private Sector in Singapore is expected to be 686861.00 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 703205.00 in 12 months time. In the long-term, the Singapore Loans to Private Sector is projected to trend around 717770.00 SGD Million in 2021 and 732843.00 SGD Million in 2022, according to our econometric models.