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Business loans remain key driver of bank lending growth

October volume rises 2% to $332.1b from September while total loans climb 1.4% to $554.3b; data is heartening, say economists

Published Fri, Nov 29, 2013 · 10:00 PM

Singapore

BUSINESS loans continued to power Singapore's bank lending growth in October, with total loans rising 1.4 per cent over the month from 1.1 per cent in September, according to preliminary figures released by the Monetary Authority of Singapore (MAS) yesterday.

On a year-on-year basis, however, credit growth slowed slightly, increasing 15.6 per cent to $554.3 billion last month, compared to 15.7 per cent in September.

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