Singapore Sept bank lending rises 1.1 pct from Aug

PHOTO: Singapore Sept bank lending rises 1.1 pct from Aug

SINGAPORE - Total bank lending in Singapore rose 1.1 per cent in September from August, helped by an increase in loans for general commerce and business services, central bank data showed on Thursday.

Loans and advances by domestic banking units in the city-state amounted to S$546.6 billion ($441.95 billion) last month, up from S$540.8 billion in August.

From a year earlier, September bank lending rose 16 per cent.

Loans and advances in Asian currency units (ACU) rose to S$446.3 billion in September from S$439.0 billion in August.

The ACU market refers to loans denominated in currencies other than the Singapore dollar.

For details of the latest monthly statistics, see www.mas.gov.sg