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Bank lending stays flat for second straight month in October: MAS

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THERE was no growth in bank lending for the second straight month in October, with business loans contracting again from September, data from the Monetary Authority of Singapore showed on Friday.

THERE was no growth in bank lending for the second straight month in October, with business loans contracting again from September, data from the Monetary Authority of Singapore showed on Friday.

Singapore-dollar loans in October stood at S$604 billion, unchanged from a month ago. This was likewise in September.

Business loans shrank 0.3 per cent to S$370 billion in October, though this was a slightly smaller decline compared to the 0.4 per cent contraction that was posted in September.

Consumer loans gained 0.4 per cent to S$234 billion in October, a shade weaker than the 0.5 per cent growth in September.

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