New housing loan applications fall 30% for DBS, OCBC in Q3 – Channel NewsAsia

SINGAPORE: Following the announcement of new property loan curbs in June, Singapore banks DBS and OCBC said new housing loan applications have fallen 30 per cent in the third quarter.

Still, both banks expect to continue to see positive loans growth, as previously contracted commitments are still in the loans pipeline.

However, OCBC said this momentum could taper off in the second half of next year.

The bank expects loans growth in the very “low-teens” for 2013, while DBS is forecasting total loans growth to come in at around 15 per cent.

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