Banking Sector Development
August 2016 | Released on 8 February 2017
Household loans steered strong credit growth
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.
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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