Bank lending in Singapore reverses to growth in October

01-Dec-2016 Intellasia | Businesstimes | 6:00 AM Print This Post

BANK lending in Singapore rose 0.8 per cent in October from a month ago – reversing from a slip in September – as growth in business lending turned positive, preliminary data from the Monetary Authority of Singapore (MAS) showed on Wednesday.

From a year ago, bank lending in October was up one per cent, reversing from 12 months of contraction.

Loans through the domestic banking unit – which captures lending in all currencies but mainly reflects Singapore-dollar lending – stood at S$608 billion in October, up from S$603 billion in September.

Business loans rose one per cent in October from September, at S$359 billion. Consumer loans’ growth stood at 0.4 per cent in October from September to S$249 billion. This was weaker than the 0.8 per cent growth in September.


Category: Singapore

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