Singapore September bank lending dips on lower financial, commerce loans

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

SINGAPORE (REUTERS) - Singapore's total bank lending in September fell from the previous month on declines in loans to financial institutions and general commerce, data from the Monetary Authority of Singapore (MAS) showed on Friday (Oct 30).

Loans and advances by domestic banks amounted to $608.3 billion last month, according to data from the Monetary Authority of Singapore.

That compared was 0.6 per cent lower than the S$613.5 billion in August.

Year-on-year, September bank lending grew 0.6 per cent from S$604.5 billion in September 2014.

Housing and bridging loans in September increased to $182.9 billion from $182.0 billion in August. These loans totalled $174.5 billion in September 2014.

Loans and advances in non-Singapore Asian currencies (ACU) were $571.1 billion in September, down from $574.9 billion in August.