S'pore bank lending falls for 6th straight month in March

Singapore

SINGAPORE bank lending slid year on year for the sixth consecutive month in March as loans to both consumers and businesses fell amid sluggish economic growth.

Overall loans contracted 1.74 per cent last month over a year ago. Business loans fell for seven straight months, making this the longest streak of year-on-year contraction since 1999, which saw six consecutive months of business loan declines between November 1999 and April 2000.