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Rising business activity bolsters Singapore bank lending in April

Loans grow 7%, helped by double-digit increases in FIs, business services, transport, general commerce

Published Wed, May 31, 2017 · 09:50 PM

Singapore

SINGAPORE bank lending continues to expand, driven by increasing business activity, while consumer credit growth remains sluggish, according to latest data from the Monetary Authority of Singapore.

April bank lending rose 7 per cent to S$631.2 billion from a year ago, up from 6.3 per cent in March. It was the fastest pace since November 2014 as business sentiment improved in export-led industries in line with a stronger global recovery.