Singapore bank lending rises for 4th straight month: MAS data

Loans through the domestic banking unit were up 0.5 per cent to $686.73 billion in February, from $683.59 billion in January.
Loans through the domestic banking unit were up 0.5 per cent to $686.73 billion in February, from $683.59 billion in January.PHOTO: ST FILE

SINGAPORE (THE BUSINESS TIMES) - Bank lending in Singapore rose for the fourth straight month in February on continued growth in housing and construction loans, data from the Monetary Authority of Singapore (MAS) showed on Wednesday (March 31).

Loans through the domestic banking unit - which captures lending in all currencies, but reflects mainly Singapore-dollar lending - were up 0.5 per cent to $686.73 billion in February, from $683.59 billion in January.

Loans to businesses grew 0.5 per cent month on month to $424.76 billion in February. Loans to the single-largest business segment, building and construction, rose 1.2 per cent to $152.15 billion.

Meanwhile, loans to consumers edged up 0.4 per cent month on month to $261.97 billion in February. Housing loans, which make up three-quarters of consumer lending, ticked up 0.3 per cent to $202.66 billion.

Year on year, total bank lending slipped 0.9 per cent.