1. Market Research
  2. > Financial Services
  3. > Banking Market Trends

Singapore Banking and Finance Industry - 2014

  • November 2014
  • 33 pages
  • Emerging Markets Direct Media Holdings
Report ID: 3307201

Summary

Table of Contents

This report profiles Singapore's banking and finance industry, discussing market trends and outlook into 2014 and beyond. The report also highlights leading players in the sector including United Overseas Bank Ltd, DBS Group Holdings Ltd and Overseas China Banking Corporation Ltd.



Singapore's economy recorded subdued growth after the first quarter of 2014 due to lower growth in exports. Both domestic banking units and Asian currency units hence showed slightly lower loan growth in the first eight months of 2014. Loans for purchase of residential property dominated the portfolio of most of the domestic banking units. The country's low interest rates and growing population are driving loan growth in the segment.



Fixed deposits and savings deposits continued to dominate the total deposits of banks. More than three quarters of the deposits were in these two segments. The banking system remained stable with ample liquidity to meet demand for deposit withdrawals and other liquidity obligations. The overnight policy rate of the central bank has remained stable for a while. Monetary Authority of Singapore (MAS) has kept the lending rates low in order to drive domestic consumption in the country as well as help the small and medium enterprises.



The profitability of banks in the sector has taken a hit because of the rising costs of operation. As a result, net profits dipped across the banks. However, the outlook for Singaporean banking and financial services sector is stable owing to the strong financials of companies and stable economic environment in the country. The country's rating as a top-ranked international financial center bode well for the growth of this sector.



Key Points:



o The asset base of domestic banking units (DBUs) in Singapore grew at a CAGR of 10.4% during 2003-13. The total assets of the system grew by 9.1% y/y in August 2014.



o The asset base of Asian Currency Units (ACUs) grew at a CAGR of 8.8% during 2003-13. The total assets of ACUs grew by 8.8% y/y in August 2014.



o Total loans and advances of domestic banking units grew by 10.6% y/y in August 2014, which was lower than its long term growth trend of 11.2%. Dip in economic growth led to a slight decrease in loan growth in 8M14.



o Finance and insurance sector emerged as the fastest growing sector of the economy in the otherwise slow second quarter of FY14, recording a y/y growth of 5.5%. However, this growth was much lower than that recorded during the four quarters of FY13.

Get Industry Insights. Simply.

  • Latest reports & slideshows with insights from top research analysts
  • 60 Million searchable statistics with tables, figures & datasets
  • More than 25,000 trusted sources
  • Single User License — provides access to the report by one individual.
  • Department License — allows you to share the report with up to 5 users
  • Site License — allows the report to be shared amongst all employees in a defined country
  • Corporate License — allows for complete access, globally.

Ahmad helps you find the right report:

Testimonials

The research specialist advised us on the best content for our needs and provided a great report and follow-up, thanks very much we shall look at ReportLinker in the future.

Kate Merrick

Global Marketing Manager at
Eurotherm by Schneider Electric

We were impressed with the support that ReportLinker’s research specialists’ team provided. The report we purchased was useful and provided exactly what we want.

Category Manager at
Ikea

ReportLinker gave access to reliable and useful data while avoiding dispersing resources and spending too much time on unnecessary research.

Executive Director at
PwC Advisory

The customer service was fast, responsive, and 100% professional in all my dealings (...) If we have more research needs, I'll certainly prioritize working with ReportLinker!

Scott Griffith

Vice President Marketing at
Maurice Sporting Goods

The research specialist provided prompt, helpful instructions for accessing ReportLinker's product. He also followed up to make sure everything went smoothly and to ensure an easy transition to the next stage of my research

Jessica P Huffman

Research Associate at
American Transportation Research Institute

Excellent customer service. Very responsive and fast.

Director, Corporate Strategy at
Ingredion

I reached out to ReportLinker for a detailed market study on the Air Treatment industry. The quality of the report, the research specialist’s willingness to solve my queries exceeded my expectations. I would definitely recommend ReportLinker for in-depth industry information.

Mariana Mendoza

Global Platform Senior Manager at
Whirlpool Corporation

Thanks! I like what you've provided and will certainly come back if I need to do further research works.

Bee Hin Png

CEO at
LDR Pte Ltd

The research specialist advised us on the best content for our needs and provided a great report and follow-up, thanks very much we shall look at ReportLinker in the future.

Kate Merrick

Global Marketing Manager at
Eurotherm by Schneider Electric

Purchase Reports From Reputable Market Research Publishers

New Entrants: Mapping the Landscape

  • $ 5250
  • Industry report
  • May 2017
  • by GlobalData

New Entrants: Mapping the Landscape Summary Market conditions around the world have not historically been particularly friendly to new banking entrants. Stringent regulations have presented formidable ...

Banking as a Marketplace: Opportunities and Threats

  • $ 5250
  • Industry report
  • March 2017
  • by GlobalData

Banking as a Marketplace: Opportunities and Threats Summary EU-wide and UK-specific regulations will force banks to open up access to their customer data by January 2018. This will have profound implications ...

IDC MaturityScape Benchmark: Omni-Experience Digital Transformation in Retail Banking in Western Europe, 2017

  • $ 3960
  • Industry report
  • May 2017
  • by IDC

This IDC MaturityScape Benchmark serves as a quantified assessment for banking professionals in charge of the design and execution of retail banking business strategies."Powerful interactions across the ...


ref:plp2014

Reportlinker.com © Copyright 2017. All rights reserved.

ReportLinker simplifies how Analysts and Decision Makers get industry data for their business.