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Singapore bank loans fall in July for first time in nearly five years

Published on Aug 29, 2014 10:32 AM
 
The Monetary Authority of Singapore. Monthly bank loans disbursed by lenders here fell for the first time in nearly five years in July as a dip in business lending dragged the numbers down. -- PHOTO: ST FILE

SINGAPORE - Monthly bank loans disbursed by lenders here fell for the first time in nearly five years in July as a dip in business lending dragged the numbers down.

Preliminary statistics released by the Monetary Authority of Singapore (MAS) on Friday showed banks loaned out a total of $597.4 billion last month.

That marks a dip of 0.05 per cent compared with the previous month, when $597.7 billion worth of loans were disbursed.

It also represents the first month-on-month decline since October 2009.

 
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