BANK LENDING HITS
5-MONTH HIGH
Aug 3, 2015
On the back of higher loans in the building and construction
sector as well as general commerce, Singapore’s total bank lending rose to a
five-month high in June, revealed latest data from the Monetary Authority of
Singapore (MAS).
The data released last Friday shows that total loans and
advances by domestic banks increased 1.6 percent to $606.8 billion last month,
the highest since January and from $597 billion in May. Bank lending in June
also grew 1.5 percent compared to a year ago at $597.8 billion.
Housing and bridging loans increased 0.5 percent from $179.4
billion in May to $180.3 billion in June. The loans amounted to $171.8 billion
in the same period last year.
Total consumer loans rose 0.6 percent month-on-month to
$238.8 billion, while credit card loans rose 1.0 percent from $9.64 billion in
May to $9.74 billion in June.
Info courtesy –
Property guru