Maybank S'pore sees consumer loans growth

MAYBANK Singapore continues to enjoy double-digit growth in consumer loans and deposits despite the economy slowing to a crawl. That's because it has a smaller base, said Choong Wai Hong, who heads its community financial services (CFS).

Maybank Singapore saw its net operating income for the first half of 2015 rise 0.7 per cent to S$398.12 million on the back of a 13.2 per cent gain in net interest income as loans expanded by an annualised 8.2 per cent.

Consumer loans were especially robust, up 29.1 per cent to S$14.0 billion as a result of strong growth in both housing and other personal loans.