Wednesday, 4 January 2017

Stock Market Today:Singapore banks are still in the woods

Maybank Kim Eng has reiterated its negative rating on the Singapore banking sector as November's banking system data proved to be "uninspiring".

System loan growth saw its 11th consecutive quarter of contraction, declining 1.2% during the month. 

It was an improvement over the 2.2% decline in Oct, as lending improved in most sectors. Corporate loan growth declined by 1.9% and consumer loan growth grew by a mere 0.7%.

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