Bank loans in Singapore went up to SGD 672.3 billion in February 2019 from SGD 671.2 billion in the previous month, as lending to businesses rose to SGD 407.4 billion (vs SGD 405.7 billion in January) while consumer loans edged down to SGD 265 billion (vs SGD 265.5 billion). Within businesses, loans went up for: financial institutions (SGD 100.1 billion vs SGD 98.7 billion); general commerce (SGD 63.2 billion vs SGD 63.0 billion); and manufacturing (SGD 26.9 billion vs SGD 26.5 billion). On the other hand, loans declined for: construction (SGD 136.4 billion vs SGD 136.8 billion); transport, storage & communication (SGD 25.9 billion vs SGD 26.3 billion); business services (SGD 9.5 billion vs SGD 9.6 billion). Meantime, loans for agriculture, mining and quarrying were unchanged at SGD 3.0 billion. Loans to Private Sector in Singapore averaged 206570.41 SGD Million from 1980 until 2018, reaching an all time high of 673253.80 SGD Million in June of 2018 and a record low of 16439.80 SGD Million in January of 1980.
Loans to Private Sector in Singapore is expected to be 692000.00 SGD Million by the end of this quarter, according to Trading Economics global macro models and analysts expectations. Looking forward, we estimate Loans to Private Sector in Singapore to stand at 710000.00 in 12 months time. In the long-term, the Singapore Loans to Private Sector is projected to trend around 715000.00 SGD Million in 2020, according to our econometric models.