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. 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.

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