Loans continued to slow from Sept 2011 peak

Loan-to-deposit ratio at 91.9%, the highest since 2001.

System deposits grew 8.18% y-y in June (May: 7.83%), with deposits from Singapore residents growing 6.9% y-y (May: 6.7%). With loan growth showing 1.7% m-m growth and deposits down c. 1% m-m, the loan-to- deposit ratio (LDR) is at 91.9% (May: 90.2%), the highest since 2001.

Here's more from Nomura:

June loan growth was 20.9% y-y, 7.6% YTD (down vs. 22.5% in May but up 1.7% m-m), with general commerce up 33.4% y-y (May: 33.4%) and 3.6% m-m, and financial services-related loans moderating to 23.1% (May:27.7%), up 2.3% m-m.

Building and construction loan growth was 21.8% y-y (May: 21.1%), up 0.9% m-m. Manufacturing loans grew 45.9% y-y (May:51.4%), or up a healthy 6.3% m-m.

Overall, loans to businesses grew by 25.4% y-y (May: 28%). Housing and bridging loans, c.31% of system loans, seem to be stabilising at 15.2% y-y (May: 15%), with total consumer loan growth at 15.2% y-y (May: 15.7%).

Loan limit utilization at 56.7% (May: 57.6%) moderated, having been near the 58% peak level since end-11.