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January bank loans grew at slower 1.4% pace to $582.2 billion

Published on Feb 28, 2014 4:03 PM

BANK loans growth continued to slow in January, as the pace of lending to businesses dipped.

Preliminary data from the Monetary Authority of Singapore (MAS) released on Friday showed that January's bank lending came in at $582.2 billion, a 1.4 per cent rise from December.

That is a shade below December's 1.5 per cent increase from November, continuing a moderate pace of loans growth.

Lending in November had accelerated 2.1 per cent from October.

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