Bank loans to drop 5% in 2011

Domestic bank loans are expected to drop due to the high base and housing loan segment, OCBC said.

Despite the 14.5% growth in the previous year, the fastest pace of loans growth since December 2008, 2011 banks loans growth will moderate to around 5% y-o-y this year.

Barring any unexpected changes to the MAS monetary policy stance in April, OCBC expects that the 3-month SIBOR may stay contained around the 0.5% handle in H1 before gradually normalising to around 0.8% towards the year-end.

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