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Loans and advances by the finance corporations dropped to S$12.5 billion in December, the bottom since March 2015, in keeping with preliminary MAS figures. That represents simply 2 {d1b09b52e348bca183891b64351c3d12a06490ae1ade172cf7e26dadc1963fe2} of the S$617.three billion of loans and advances within the city’s financial system, the info present. In a statement, MAS stated finance corporations will likely be allowed to offer a larger quantity of uncollateralised loans to businesses.
There are three licensed finance corporations in Singapore – Hong Leong Finance, Sing Investments & Finance and Singapura Finance. In Q2 2016, they accounted for just below S$7 billion or 8.5 per cent of the whole outstanding …