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Singapore Banking and Finance Industry - 2014

  • November 2014
  • -
  • Emerging Markets Direct Media Holdings
  • -
  • 33 pages

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.

Table Of Contents

Singapore Banking and Finance Industry - 2014
4. Tables and Charts

Table 1: Types of banking and financial institutions in Singapore

Table 2: Functions of Monetary Authority of Singapore

Table 3: Interest rates in Singapore

Table 4: Capital adequacy requirements prescribed by MAS

Table 5: Key ratios of the leading players



Chart 1: Number of banking institutions in Singapore by type

Chart 2: Number of banking and financial Institutions in Singapore

Chart 3: Asset size of banking and financial institutions in Singapore

Chart 4: Asset share by type of bank and type of assets

Chart 5: Total assets of domestic banking units

Chart 6: Asset profile of domestic banking units of Singapore

Chart 7: Total loans and advances of DBUs

Chart 8: Distribution of loans approved by purpose-DBUs

Chart 9: Total assets of Asian currency units (Asian dollar markets)

Chart 10: Asset profile of Asian currency units of Singapore

Chart 11: Total loans and advances of ACUs to non-bank customers

Chart 12: Distribution of loans approved by purpose-ACUs

Chart 13: Liability profile of domestic banking units of Singapore

Chart 14: Total deposits of non-banking customers-DBUs

Chart 15: Liability profile of ACUs

Chart 16: Total interbank funds of ACUs

Chart 17: Constituent parties in parliament

Chart 18: Cost of business start-up procedures

Chart 19: Total assets of Monetary Authority of Singapore

Chart 20: Singapore quarterly GDP growth rate-Y/Y change

Chart 21: Quarterly exports from Singapore

Chart 22: Annual trade balance of Singapore

Chart 23: Annual fiscal balance of Singapore government

Chart 24: USD/SGD exchange rates- monthly average

Chart 25: Core inflation in Singapore

Chart 26: GDP by sectors at factor prices

Chart 27: Percentage change over previous year- GDP by Sector

Chart 28: Overnight policy rate (SGS Repo) in Singapore

Chart 29: Liquidity ratio of banks in Singapore

Chart 30: Exposure of Singaporean banking industry

Chart 31: Net classified exposure ratio

Chart 32: Asset profile of UOB-Annual

Chart 33: Profitability of UOB-Annual

Chart 34: Non performing loans ratio of UOB

Chart 35: Asset profile of DBS-Annual

Chart 36: Profitability of DBS-Annual

Chart 37: Profitability of OCBC-Annual

Chart 38: Non performing loans of OCBC

Chart 39: Profitability of OCBC-Annual

Chart 40: Non-performing loans of OCBC

Chart 41: Asset profile of UOB-Annual

Chart 42: Profitability of UOB-Annual

Chart 43: Non-performing loans of UOB

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