Singapore April bank lending down as financial, commerce loans fall

Singapore's total bank lending fell in April from the previous month on a decline in loans to financial institutions and general commerce, central bank data showed on Friday. -- ST PHOTO: KUA CHEE SIONG
Singapore's total bank lending fell in April from the previous month on a decline in loans to financial institutions and general commerce, central bank data showed on Friday. -- ST PHOTO: KUA CHEE SIONG

SINGAPORE (REUTERS) - Singapore's total bank lending fell in April from the previous month on a decline in loans to financial institutions and general commerce, central bank data showed on Friday.

Loans and advances by domestic banks in the city-state amounted to S$594.3 billion last month, compared with S$601.1 billion in March, according to data from the Monetary Authority of Singapore.

April bank lending grew 0.6 per cent from S$591.1 billion a year earlier.

Housing and bridging loans in April rose to S$179.3 billion from S$169.5 billion a year earlier. These loans totalled at S$179.1 billion in March.

Loans and advances in non-Singapore Asian currencies (ACU) were S$549.2 billion in April, down from S$568.1 billion in March.