Bank lending in Singapore up 0.6% in November after two months of no growth

BANK lending rose 0.6 per cent in November, following two straight months of no growth, data from the Monetary Authority of Singapore showed on Wednesday.

Loans through the domestic banking unit - which mainly reflect Singapore-dollar lending - stood at S$608 billion. This compares with S$604 billion in October.

The lift came from business loans, which rose 0.8 per cent to S$373 billion in November. In October, it contracted by 0.3 per cent.

Consumer loans gained 0.4 per cent to S$235 billion in November, at the same pace registered in October.