Singapore December bank lending slips 0.7% as general commerce, financial loans fall

Singapore's total bank lending in December fell from the previous month as loans to general commerce and financial institutions declined.
Singapore's total bank lending in December fell from the previous month as loans to general commerce and financial institutions declined. PHOTO: ST FILE

SINGAPORE (REUTERS) - Singapore's total bank lending in December fell from the previous month as loans to general commerce and financial institutions declined, central bank data showed on Friday.

Loans and advances by domestic banks in the city-state amounted to S$599.8 billion in December, according to data from the Monetary Authority of Singapore released on Friday (Jan 29).

That was 0.7 per cent lower than the S$603.9 billion in November.

December bank lending was also 1.2 per cent down from the year-earlier level of S$607.2 billion.

Housing and bridging loans in December edged up to S$184.7 billion from S$184.3 billion in November. These loans totalled S$177.4 billion in December 2014.

Loans and advances in non-Singapore Asian currencies (ACU) were S$549.6 billion in December, down from S$560.6 billion in November.