Singapore February bank lending falls as commerce, finance loans slide

SINGAPORE (Reuters) - Total bank lending in Singapore fell in February from the previous month, as a drop in loans to general commerce and financial institutions offset increases in loans to manufacturers, central bank data showed on Tuesday.

Loans and advances by domestic banks in the city-state amounted to $603.52 billion last month, compared with $607.47 billion in January, according to data from the Monetary Authority of Singapore.

February bank lending grew 3.3 per cent from $584.47 billion a year earlier.

Housing and bridging loans in February rose to $178.38 billion from $168.17 billion a year earlier. These loans stood at $178.27 billion in January.

Loans and advances in non-Singapore Asian currencies (ACU) were $558.12 billion in February, up from $553.65 billion in January.