Chart of the Week: CASA deposits dominate Singapore banks' total customer deposits

Savings and demand deposits now comprise 62% of total deposits.

Maybank Kim Eng reports that the Singapore DBU banking system has seen a shift from fixed deposits towards CASA deposits. As of 4Q07, the system’s fixed deposits represented 56% of total customer deposits, whilst savings and demand deposits formed 44%. But at 1Q17, fixed deposits only comprised 38% of total customer deposits, whilst savings and demand deposits together formed 62%.

"Likewise, CASA deposits now form a larger proportion of customer deposits for the three local banks as compared to ten years ago. OCBC saw the largest improvement in its CASA mix, from 28% in 1Q07 to 50% of its total deposit base in 1Q17. Similarly, DBS’s/UOB’s CASA mix improved from 46%/30% in 1Q07 to 63%/45% in 1Q17, respectively," adds Maybank Kim Eng.