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Bank lending in Nov up, but weaker than Oct: MAS

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Bank lending in Singapore rose 0.4 per cent in November from a month ago, at a weaker pace than the 0.8 per cent growth seen in October, as growth in business and consumer lending eased, preliminary data from the Monetary Authority of Singapore on Friday showed.

BANK lending in Singapore rose 0.4 per cent in November from a month ago, at a weaker pace than the 0.8 per cent growth seen in October, as growth in business and consumer lending eased, preliminary data from the Monetary Authority of Singapore on Friday showed.

Loans through the domestic banking unit - which captures lending in all currencies but mainly reflects Singapore-dollar lending - stood at S$611 billion in November, up from S$608 billion in October.

Business loans rose 0.7 per cent in November from October, at S$361 billion. Consumer loans' growth stood 0.1 per cent higher in November from a month ago, at S$250 billion.

From a year ago, bank lending in November was up 1.1 per cent.

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