Banking Sector Development

August 2016 | Released on 8 February 2017


  Aug16 Jul 16 Jun 16 May 16

Deposit rate (%) *
2.22 2.22 2.27 2.22
Lending rate (%) *
7.90 7.92 7.879 7.88

Total Deposits (T$m)
481.9 462.6 468.3 453.7
Total Lending (T$m) ^
355.2 351.9 352.3 348.7
New Commitments (T$m) 12.8 11.2 10.5 11.3
Broad Money (T$m) 491.0 478.0 470.5 460.5

* Weighted Average calculated as a function of interest rate and volume of deposits and loans
^ This series shows total lending from the banking sector only

Household loans steered strong credit growth

Lending

A pick-up in total bank’s lending by $3.3 million (1.0%) has taken lending to $355.2 million in August 2016, much higher than $0.9 million (0.3%) growth in August 2015. This stemmed from an increase in lending to households, offsetting a decline in business loans.

Deposit

Total bank deposits rose over the month by $19.3 million (4.2%) to $481.9 million. This was driven by a rise in all categories with time deposits recording the highest growth of $8.1 million (4.6%), reflected higher time deposits of businesses.

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