Singapore bank lending dips in January as commerce, financial loans decline

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

Loans and advances by domestic banks in the city-state amounted to $607.47 billion last month, compared with $607.91 billion in December, according to data from the Monetary Authority of Singapore.

January bank lending grew 4.3 per cent from $582.24 billion a year earlier.

Housing and bridging loans in January increased to $178.27 billion from $167.33 billion a year earlier. These loans stood at $177.43 billion in December.

Loans and advances in non-Singapore Asian currencies (ACU) were $553.65 billion in January, up from $541.17 billion in December.

For details of the latest monthly statistics, see www.mas.gov.sg