Singapore December bank lending slips from November

The skyline in the Central Business District. Total bank lending in Singapore fell in December from the previous month, as a drop in loans to sectors such as manufacturing and general commerce offset increases for others including building and constr
The skyline in the Central Business District. Total bank lending in Singapore fell in December from the previous month, as a drop in loans to sectors such as manufacturing and general commerce offset increases for others including building and construction. -- PHOTO: ST FILE

SINGAPORE (Reuters) - Total bank lending in Singapore fell in December from the previous month, as a drop in loans to sectors such as manufacturing and general commerce offset increases for others including building and construction.

Loans and advances by domestic banks in the city-state amounted to $607.96 billion last month, compared with $608.17 billion in November, according to data released by the Monetary Authority of Singapore on Friday (Jan 30).

December bank lending grew 5.9 per ent from $574.27 billion a year earlier.

Housing and bridging loans in December increased to $177.4 billion from $166.5 billion a year earlier. These loans stood at $176.2 billion in November.

Loans and advances in non-Singapore Asian currencies (ACU) were $541.1 billion in December, compared with $539.9 billion in November.