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. 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.

Join ST's Telegram channel and get the latest breaking news delivered to you.