Singapore bank lending falls for fourth consecutive month in March

SINGAPORE (Reuters) - Total bank lending in Singapore fell in March from the previous month on a drop in loans to manufacturers and financial institutions, central bank data showed on Thursday.

Loans and advances by domestic banks amounted to $601.1 billion last month, compared with $603.5 billion in February, according to data from the Monetary Authority of Singapore.

March bank lending grew 2.3 per cent from $587.7 billion a year earlier.

Housing and bridging loans in March rose to $179.1 billion from $168.9 billion a year earlier. These loans stood at $178.4 billion in February.

Loans and advances in non-Singapore Asian currencies (ACU) were $568.1 billion in March, up from $558.1 billion in February.