Singapore bank lending up 0.1 per cent in April: MAS data

SINGAPORE (THE BUSINESS TIMES) – Bank lending inched up 0.1 per cent in April on higher consumer loans, data from the Monetary Authority of Singapore (MAS) showed on Monday (May 31).

Loans through the domestic banking unit – which captures lending in all currencies but reflects mainly Singapore-dollar lending – came in at $692.17 billion in April, from $691.23 billion in March.

Loans to consumers grew 0.3 per cent month on month to $264.48 billion in April.

Housing loans, which make up three-quarters of consumer lending, extended their growth streak for the eighth straight month, up 0.4 per cent to $204.65 billion.

Total loans to businesses came in flat at $427.69 billion in April. Loans to the single-largest business segment – building and construction – rose 0.3 per cent to $152.15 billion in April to reverse the 0.3 per cent decline in March.

Year on year, total bank lending was up 0.4 per cent.

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