Singapore October bank lending barely changed from September

SINGAPORE - Total bank lending in Singapore was barely changed in October from September as loans for housing and building and construction rose offsetting falls in lending to financial institutions and the manufacturing sector.

Loans and advances by domestic banking units amounted to $604.4 billion last month, compared to $604.5 billion in September, according to the Monetary Authority of Singapore on Friday.

October bank lending grew 9.0 per cent from $554.3 billion a year earlier.

Housing and bridging loans in October increased 6.4 per cent to $175.5 billion from $164.9 billion a year earlier. These loans stood at $174.5 billion in September.

Loans and advances in non-Singapore Asian currency units (ACU) were $528.2 billion in October, compared to $527.3 billion in September.