Executive Summary

Oct 2019
Slowing economic growth results in weaker consumer sentiment

Consumer sentiment has taken a hit as Singapore’s economy slows down with looming recession ahead. The market has been affected by the growing protectionist tensions around the world.

Personal loans still the highest contributor

Personal loans contribute the most to non-card loans and debts in Singapore. These loans are usually used for weddings or leisure and remain popular.

Fintech are on the rise

Fintechs have been growing significantly in the financial landscape in Singapore. These firms are slowly expanding their role in capital markets whereby one would often question if fintech are a threat or complement to traditional banks.

Housing loans shrink

Since cooling measures implemented in the property market in July 2018, this has continued to affect housing loans that are issued in Singapore. Housing loans have been shrinking continuously since the new measure, unsurprisingly.

Steady growth in consumer lending over the forecast period

Over the short-term forecast period, Singapore’s economy seems rather gloomy in terms of growth. Singapore’s weakness as an open and trade-dependent economy is especially prevalent in times of protectionism and global tensions.

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Consumer Lending in Singapore

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Overview

Discover the latest market trends and uncover sources of future market growth for the Consumer Lending industry in Singapore with research from Euromonitor's team of in-country analysts.

Find hidden opportunities in the most current research data available, understand competitive threats with our detailed market analysis, and plan your corporate strategy with our expert qualitative analysis and growth projections.

If you're in the Consumer Lending industry in Singapore, our research will save you time and money while empowering you to make informed, profitable decisions.

The Consumer Lending in Singapore market research report includes:

  • Analysis of key supply-side and demand trends
  • Historic volumes and values
  • Five year forecasts of market trends and market growth  
  • Robust and transparent market research methodology, conducted in-country

Our market research reports answer questions such as:

  • What is the market size of Consumer Lending in Singapore?
  • What are the major trends set to impact the market in Singapore?
  • What capacity for consumer debt still exists in the market?
  • What’s the state of credit quality in the market?
  • Has the economic downturn reset the lender competitive landscape?

Why buy this report?

  • Gain competitive intelligence about market leaders
  • Track key industry trends, opportunities and threats
  • Inform your marketing, brand, strategy and market development, sales and supply functions

Euromonitor’s industry reports, including Consumer Lending in Singapore, originate from our database within our Consumer Finance market share and market size database, Passport, a platform which analyses Consumer Finance in 46 countries and globally.

Consumer Lending in Singapore - Industry Overview

EXECUTIVE SUMMARY

Slowing economic growth results in weaker consumer sentiment
Personal loans still the highest contributor
Fintech are on the rise
Housing loans shrink
Steady growth in consumer lending over the forecast period

MARKET DATA

Table 1 Consumer Lending: Outstanding Balance by Category: Value 2014-2019
Table 2 Consumer Lending: Outstanding Balance by Category: % Value Growth 2014-2019
Table 3 Consumer Lending: Gross Lending by Category: Value 2014-2019
Table 4 Consumer Lending: Gross Lending by Category: % Value Growth 2014-2019
Table 5 Consumer Lending: Non-performing vs Other Loans Outstanding Balance: % Value 2014-2019
Table 6 Mortgages/Housing: Non-performing vs Other Loans Outstanding Balance: % Value 2014-2019
Table 7 Consumer Credit: Non-performing vs Other Loans Outstanding Balance: % Value 2014-2019
Table 8 Card Lending: Non-performing vs Other Loans Outstanding Balance: % Value 2014-2019
Table 9 Forecast Consumer Lending: Outstanding Balance by Category: Value 2019-2024
Table 10 Forecast Consumer Lending: Outstanding Balance by Category: % Value Growth 2019-2024
Table 11 Forecast Consumer Lending: Gross Lending by Category: Value 2019-2024
Table 12 Forecast Consumer Lending: Gross Lending by Category: % Value Growth 2019-2024

SOURCES

Summary 1 Research Sources

Consumer Credit in Singapore - Category analysis

HEADLINES

PROSPECTS

Gross lending maintains slow growth
Card lending posts strong growth

COMPETITIVE LANDSCAPE

Traditional banks still the main consumer lenders
New moneylending licenses issue, increasing competition

CATEGORY DATA

Table 13 Consumer Credit: Outstanding Balance by Category: Value 2014-2019
Table 14 Consumer Credit: Outstanding Balance by Category: % Value Growth 2014-2019
Table 15 Consumer Credit: Gross Lending by Category: Value 2014-2019
Table 16 Consumer Credit: Gross Lending by Category: % Value Growth 2014-2019
Table 17 Forecast Consumer Credit: Outstanding Balance by Category: Value 2019-2024
Table 18 Forecast Consumer Credit: Outstanding Balance by Category: % Value Growth 2019-2024
Table 19 Forecast Consumer Credit: Gross Lending by Category: Value 2019-2024
Table 20 Forecast Consumer Credit: Gross Lending by Category: % Value Growth 2019-2024