Singapore bank lending edges up in November

Singapore's total bank lending in November increased from the previous month central bank data showed on Dec 31.
Singapore's total bank lending in November increased from the previous month central bank data showed on Dec 31.PHOTO: ST FILE

SINGAPORE (REUTERS) - Singapore's total bank lending in November increased from the previous month, helped by a rise in loans to financial institutions, central bank data showed on Thursday.

Loans and advances by domestic banks in the city-state amounted to S$603.9 billion last month, according to data from the Monetary Authority of Singapore.

That compared with S$601.7 billion in October.

November bank lending was 0.7 per cent smaller than the year-ago level of S$608.2 billion.

Housing and bridging loans in November rose to S$184.3 billion from S$183.6 billion in October. These loans totalled S$176.2 billion in November 2014.

Loans and advances in non-Singapore Asian currencies (ACU) were S$560.6 billion in November, down slightly from S$560.9 billion in October.