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Singapore's Property Prices Are Up, But Credit Risks On Banks' Residential Property Loans Remain Subdued Jul 10 Product Image

Singapore's Property Prices Are Up, But Credit Risks On Banks' Residential Property Loans Remain Subdued Jul 10

  • ID: 2040477
  • July 2010
  • Region: Singapore
  • Standard & Poors

FEATURED COMPANIES

  • DBS Bank Ltd.
  • United Overseas Bank Ltd.
  • MORE

Abstract
Mortgages represent the single largest industry exposure for Singapore banks, and a property bubble could send banks' credit loss risks soaring. The demand for private residential property has been strong since the first quarter of 2009, with upward spiraling home prices and low cost of funds fuelling fears of an asset bubble in Singapore. Improving economic prospects have whetted risk appetites and revived buying interest, while mortgage rates have been near historical lows. Consequently, home loans--which currently make up about 25% of Singapore banks' loan portfolios--have been growing rapidly. In Standard & Poor's Ratings Services' opinion, even if an asset bubble were to form, the credit loss risks of Singapore banks would be limited. This is due to the reasonable...

Companies mentioned in this report are:
- DBS Bank Ltd.
- United Overseas Bank Ltd.
- Oversea-Chinese Banking Corp. Ltd.

Standard and Poors RatingsXpress Credit Research provides in-depth coverage of international corporates, financial institutions, insurance companies, utilities, sovereigns and structured finance programs. RatingsXpress Credit Research lets users determine the READ MORE >

Note: Product cover images may vary from those shown

- DBS Bank Ltd.
- United Overseas Bank Ltd.
- Oversea-Chinese Banking Corp. Ltd.

Note: Product cover images may vary from those shown
Note: Product cover images may vary from those shown

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