Singapore bank lending flat in January

Office workers outside Raffles Place MRT in the central business district, on Feb 18, 2016.
Office workers outside Raffles Place MRT in the central business district, on Feb 18, 2016.ST PHOTO: LIM YAOHUI

SINGAPORE - Singapore bank lending barely moved in January from the previous month as little movement in business and consumer loans.

Loans and advances by domestic banks totalled S$600.2 billion in January 2016 from S$599.8 billion in December, according to data from the Monetary Authority of Singapore on Monday (Feb 29).

Bank lending declined 0.7 per cent month-on-month in December.

Compared to a year ago, January bank lending was down 1.2 per cent from S$607.5 billion. This was slightly smaller than the year-on-year decline of 1.3 per cent in December.

Business loans in January stood at S$357 billion from December, largely unchanged from a month ago. In December, it fell 1.3 per cent.

Consumer lending was also largely unchanged at S$243 billion, after rising 0.2 per cent in December.

Housing and bridging loans in January rose to S$185.3 billion from S$184.7 billion in December.

Loans and advances in non-Singapore Asian currencies (ACU) were S$545.9 billion in January, down from S$549.6 billion in December.