Singapore bank lending up 0.2% in November: MAS data

SINGAPORE (THE BUSINESS TIMES) – Singapore’s bank lending ticked up 0.2 per cent month on month in November to reverse an eight-month decline, according to preliminary data from the Monetary Authority of Singapore (MAS) on Thursday (Dec 31).

Loans through the domestic banking unit – which captures lending in all currencies, but reflects mainly Singapore-dollar lending – stood at $676.67 billion in November, compared with $675.64 billion in October.

Loans to businesses came in flat at $418.36 billion, while consumer loans rose 0.4 per cent month on month to $258.31 billion.

From a year ago, total business loans in November fell 2.7 per cent, while loans to consumers slipped 1.7 per cent over the same period.

Overall, total bank lending in November was down 2.3 per cent year on year.

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