THE banking sector has been grappling with slowing loan growth, rising interest rates and greater macroeconomic uncertainty.

The trio of Singapore banks have warned that slowing economic growth will likely weigh on results in 2024, although all three reported robust figures during their latest earnings calls for the third quarter ended September.

While higher-for-longer interest rates may boost net interest margins (NIMs), loan growth will slow as a result, they said, and credit costs are expected to creep up.