Singapore February bank lending dips 0.7% as general commerce loans slide

Members of the public using UOB ATM machines located next to DBS bank at Toa Payoh Central.
Members of the public using UOB ATM machines located next to DBS bank at Toa Payoh Central.PHOTO: ST FILE

SINGAPORE (REUTERS) - Singapore's total bank lending in February fell from January on a decline in loans to general commerce, central bank data showed on Thursday (March 31).

Loans and advances by domestic banks in the city-state amounted to S$596.2 billion in February, data from the Monetary Authority of Singapore showed.

That was about 0.7 per cent lower compared with S$600.2 billion in January.

February bank lending slid 1.2 per cent from the year-earlier level of S$603.5 billion.

Housing and bridging loans in February stood at S$185.3 billion, similar to January's level. These loans totalled S$178.4 billion in February last year.

Loans and advances in non-Singapore Asian currencies (ACU) totalled at S$533.0 billion in February, down from S$545.9 billion in January.