May bank lending rises 2.2 per cent from April

Total bank lending in Singapore rose 2.2 per cent in May from April, central bank data showed on Friday.

Loans and advances by domestic banking units in the city-state amounted to S$444.98 billion last month, up from S$435.30 billion in April. Bank lending rose 22.5 per cent in May from a year earlier.

Housing loans to consumers rose to S$137.7 billion in May from S$136.1 billion in April.

Singapore lenders DBS Group and Oversea-Chinese Banking Corp have predicted loans growth this year will be in the low- to mid-teens, following a surge in 2011 helped by gains in areas like trade finance as European banks cut their emerging markets exposure.

http://business.asiaone.com/Business/News/Story/A1Story20120629-356126.html

 

Category: Singapore