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Singapore bank lending grows at a slower pace in December

Published on Jan 30, 2014 1:44 PM

Bank loans in Singapore grew by a smaller amount last month, dragged down by a slowdown in home loans and a continued decline in car loans.

Preliminary data released on Thursday by the Monetary Authority of Singapore (MAS) showed that total bank lending in December increased by 1.5 per cent to $574.2 billion compared with the previous month.

In November, $565.8 billion of bank loans were disbursed, an increase of 2.1 per compared with October's $554.3 billion of loans.

In the consumer segment, total loans crept up by just 0.3 per cent compared with the previous month, to $225 billion.

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