Alvin Tan on non-performing loans for businesses
Non-performing loans (NPLs) in the corporate and SME sectors have fallen, even amid rising interest rates. Minister of State for Trade and Industry and Monetary Authority of Singapore board member Alvin Tan gave details in response to a Parliamentary question on Thursday (Oct 20). The proportion of NPLs for the corporate sector fell from 3.1 per cent in June 2021 to 2.5 per cent in June 2022. For SMEs, it was down 2.8 per cent to 2.4 per cent. Mr Tan said SME loan volumes have also remained resilient over the past year, growing 11.5 per cent on-year in August 2022 against broader corporate loan growth of 7.2 per cent. He added that the Government helps businesses access capital for growth through various credit schemes and will continue to monitor developments. *Audio issues inherent from source
Non-performing loans (NPLs) in the corporate and SME sectors have fallen, even amid rising interest rates. Minister of State for Trade and Industry and Monetary Authority of Singapore board member Alvin Tan gave details in response to a Parliamentary question on Thursday (Oct 20). The proportion of NPLs for the corporate sector fell from 3.1 per cent in June 2021 to 2.5 per cent in June 2022. For SMEs, it was down 2.8 per cent to 2.4 per cent. Mr Tan said SME loan volumes have also remained resilient over the past year, growing 11.5 per cent on-year in August 2022 against broader corporate loan growth of 7.2 per cent. He added that the Government helps businesses access capital for growth through various credit schemes and will continue to monitor developments. *Audio issues inherent from source
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