Singapore Jan bank lending slows for the first time 4 months

[SINGAPORE] Singapore's total bank lending in January slowed for the first time in four months, due to a fall in general commerce, central bank data showed on Tuesday.

Loans and advances by domestic banking units in the city-state amounted to S$617.1 billion last month, easing from S$617.3 billion in December.

Bank lending in January rose 2.82 per cent from a year earlier.

Loans and advances in Asian currency units (ACU) rose 0.5 per cent to S$540.8 billion in January from S$538.2 billion in December.

The ACU market refers to loans denominated in currencies other than the Singapore dollar.

REUTERS