Bank loans in Singapore increased to an all-time high of SGD 687.1 billion in June 2019 from SGD 681.8 billion in the previous month, as lending to businesses rose to SGD 423.5 billion (vs SGD 418.0 billion in May) while consumer loans edged down to SGD 263.6 billion (vs SGD 263.8 billion). Within businesses, loans went up for: financial institutions (SGD 104.9 billion vs SGD 98.0 billion); general commerce (SGD 68.9 billion vs SGD 68.6 billion); manufacturing (SGD 28.8 billion vs SGD 27.7 billion); agriculture, mining and quarrying (SGD 2.9 billion vs SGD 2.8 billion), and construction (SGD 140.6 billion vs SGD 140.2 billion). Meanwhile, loans declined for both business services (SGD 9.2 billion vs SGD 9.8 billion) and transport, storage & communication (SGD 25.1 billion vs SGD 25.8 billion). Loans to Private Sector in Singapore averaged 206570.41 SGD Million from 1980 until 2018, reaching an all time high of 673253.80 SGD Million in June of 2018 and a record low of 16439.80 SGD Million in January of 1980.
Loans to Private Sector in Singapore is expected to be 692000.00 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 710000.00 in 12 months time. In the long-term, the Singapore Loans to Private Sector is projected to trend around 715000.00 SGD Million in 2020, according to our econometric models.