Chart of the Week: Check out Singapore banks' loan growth vs system loan growth

System loan growth was 6%.

Banks’ loan growth in Singapore was 4-8% vs system loan growth of 6% YoY, with UOB and DBS’s growth trending slightly lower in 2Q17, according to Maybank Kim Eng.

"This could be partly attributed to a slight decline in their housing loan growth, but Singapore banks’ growth was still faster at 4-7% YoY vs system’s 4%. Recovery in Singapore’s property market will drive loan volumes. Margins, however, will stay tight in order to defend/gain market share," the analyst said.