Non-performing loans reached 5.17 SGD bil in 2008 in Singapore, according to the National Central Bank. This is 34.7 % less than in the previous year.
Historically, non-performing loans in Singapore reached an all time high of 7.92 SGD bil in 2005 and an all time low of 5.17 SGD bil in 2008. When compared to Singapore's main peers, non-performing loans in Indonesia amounted to 42,286 IDR bil, 34.8 MYR bil in Malaysia, 92.4 PHP bil in Philippines and 385 THB bil in Thailand in 2008.
Singapore has been ranked 52nd within the group of 75 countries we follow in terms of non-performing loans.
A non-performing loan is a loan that is in default or close to being in default.