January bank lending rises on-month as business loans pick up

January bank lending rises on-month as business loans pick up

SINGAPORE - Singapore's total bank lending in January rose from December as business loans to manufacturers and financial institutions increased, central bank data showed on Monday.

Loans and advances by domestic banks in the city-state amounted to S$600.2 billion ($425.73 billion) in January 2016, according to data from the Monetary Authority of Singapore.

That compared with S$599.8 billion in December.

January bank lending was down 1.2 per cent from the year-earlier level of S$607.5 billion.

Housing and bridging loans in January rose to S$185.3 billion from S$184.7 billion in December. These loans totalled S$178.3 billion in January 2015.

Loans and advances in non-Singapore Asian currencies (ACU) were S$545.9 billion in January, down from S$549.6 billion in December.

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