Singapore bank loans up 17.7% in June
Bank lending inSingapore continued to rise at a healthy pace last month, climbing 17.7 per cent to $532.5 billion from a year ago, data from the Monetary Authority of Singapore showed on Wednesday.
There was growth in lending across all business sectors. Loans to businesses grew 11.2 per cent overall from a year ago to $30.9 billion,
Consumer loans rose in all areas except one - car loans fell 5.4 per cent in June from a year ago as the loan curbs introduced in February continued to bite.
Cooling measures implemented in the property market, however, failed to dent a rise in housing loans, which advanced 14.5 per cent over the past year to $159.9 billion.