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Singapore March bank lending up 13.5% from year ago

Published on Apr 30, 2014 10:56 AM

SINGAPORE (Reuters) - Total bank lending in Singapore grew 0.6 per cent in March from February as loans to financial institutions rose, central bank data showed on Wednesday.

Loans and advances by domestic banking units in the city-state amounted to $587.7 billion last month, up from $584.5 billion in February, according to the Monetary Authority of Singapore.

From a year earlier, March bank lending rose 13.5 per cent.

Housing and bridging loans expanded 7.9 percent in March to $168.9 billion from $156.6 billion a year earlier, according to the central bank data.

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