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Singapore September bank lending up 1%

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Singapore's total bank lending in September rose 1 per cent from August on the back of higher disbursements to financial institutions, central bank data showed on Tuesday.

[SINGAPORE] Singapore's total bank lending in September rose 1 per cent from August on the back of higher disbursements to financial institutions, central bank data showed on Tuesday.

Loans and advances by domestic banking units in the city-state amounted to S$640.7 ($470.69) billion last month, up from S$634.4 billion in August.

Bank lending in September rose 6.2 per cent from a year earlier.

Loans and advances in Asian currency units (ACU) rose to S$ 570.4 billion in September from S$569.1 billion in August. It was at S$517.2 billion a year earlier.

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

REUTERS

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