Chart of the Day: Banks prefer customer deposits to current and savings accounts

Submitted By:  Danielle Isaac Case Study:  No Deposits to current and savings accounts jumped 9-13 ppts over 10 years. This chart from Maybank Kim Eng shows that deposits to the current and savings accounts (CASA) in Singapore's three banks has risen by 9-13ppts since 2008. The mix of CASA deposits rose across all three banks: DBS from 54% to 63%, OCBC from 34% to 47% and UOB from 36% to 46%. This is despite SGD fixed-deposit (FD) rates have risen 10-25bps since April. OCBC and UOB raised their promotional rates whilst DBS raised its 9-12-month rates by 25-35bps. read more