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Loans growth expected to decrease further next year: Banking analysts 

December 30, 2015

Nicole Tan, Channel NewsAsia

With a cloudy economic outlook for next year, Singapore banks are likely to see a squeeze on their earnings. According to banking analysts, loans growth is expected to decrease even further as a result, and credit risk may go up. 

Meanwhile, banks are expected to further step up efforts next year to stay ahead in the digital revolution, with cybercrime coming in different guises, from personal data theft to pilfering funds. 

Banks in Singapore have also cited criminality as the top concern they currently face, in a recent industry survey by PricewaterhouseCoopers (PwC). Amid a fast-evolving digital landscape, observers said the biggest challenges facing banks in Singapore are technology-related. 

PwC Singapore Assurance & Financial Services partner, Karen Loon, said: "The top risk was around criminality which relates to risk of cyber (technology), also money laundering and tax. So that's interesting because while there's been a lot of concern globally, the banks are doing quite a lot to try to improve the environment around cyber (technology) together with regulators. Read more

 

 
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