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Bank lending in Singapore flat in September: MAS

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Bank lending in Singapore dollars showed no growth in September compared to a month ago, figures released by the Monetary Authority of Singapore showed on Friday.

Total domestic banking unit loans stood at S$605 billion, unchanged from August.

The growth in consumer loans was erased by the drop in business loans. Consumer loans was up 0.5 per cent to S$234 billion, lifted by higher housing loans and larger credit card debt.

But business loans slipped 0.4 per cent to S$371 billion, dragged by weaker loans to the construction and manufacturing sector as well as for trade.