Bank loans in Singapore dropped to SGD 685.3 billion in May 2020 from SGD 689.7 billion in the previous month. It was the smallest bank lending since September last year, as both consumer loans (254.7 billion vs SGD 255.9 billion in April) and lending to businesses (SGD 430.6 billion vs SGD 433.8 billion) declined. Within businesses, loans fell for financial institutions (SGD 103.5 billion vs SGD 105.9 billion); general commerce (SGD 65.6 billion vs SGD 67.4 billion); agriculture, mining & quarrying (SGD 2.3 billion vs SGD 2.4 billion) and manufacturing (SGD 28.8 billion vs SGD 29.1 billion). On the other hand, loans increased for business services (SGD 11.3 billion vs SGD 11.2 billion); transport, storage & communication (SGD 29.4 billion vs SGD 28.8 billion), and building and construction (SGD 146.6 billion vs SGD 145.6 billion).
Loans to Private Sector in Singapore averaged 220400.17 SGD Million from 1980 until 2020, reaching an all time high of 692731.30 SGD Million in November of 2019 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 July 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.