Singapore May bank lending up on higher manufacturing loans

Singapore's total bank lending in May rose from April on stronger demand for manufacturing loans.
Singapore's total bank lending in May rose from April on stronger demand for manufacturing loans.PHOTO: ST FILE

SINGAPORE (REUTERS) - Singapore's total bank lending in May rose from April on stronger demand for manufacturing loans, central bank data showed on Thursday (June 30).

Loans and advances by domestic banks in the city-state amounted to S$592.8 billion in May, data from the Monetary Authority of Singapore showed, up from S$589.8 billion in April.

Lending to the manufacturing sector increased to S$29.1 billion in May from April's S$27.6 billion.

Housing and bridging loans in May grew to S$186.5 billion from April's S$185.9 billion.