Singapore September bank lending barely changed from August

SINGAPORE (Reuters) - Total bank lending in Singapore barely changed in September from August as loans to financial institutions rose, offsetting falls in lending to manufacturing, building and construction, central bank data showed on Friday.

Loans and advances by domestic banking units in the city-state amounted to $604.5 billion last month, compared to S$604.6 billion in August, according to the Monetary Authority of Singapore.

September bank lending grew 10.6 per cent from S$546.6 billion a year earlier.

Housing and bridging loans in September increased 6.5 per cent to $174.5 billion from $163.8 billion a year earlier, according to the central bank data.

The loans stood at S$173.5 billion in August.

Loans and advances in Asian currency units (ACU) were at $527.3 billion in September, compared to $521.3 billion in August.

The ACU market refers to loans denominated in currencies other than the Singapore dollar.