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Singapore bank lending growth slows in December

Fed taper, property market softening seen as likely factors behind easing of business, consumer lending

Published Thu, Jan 30, 2014 · 10:00 PM
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Singapore

BANK lending in Singapore grew at a slower pace in December compared with the previous month, dragged by softer growth in both consumer and business loan segments.

Preliminary figures released by the Monetary Authority of Singapore yesterday showed that domestic banking unit (DBU) loans - or loans denominated in Singapore dollars - stood at $574 billion in December, up 1.5 per cent from November. This was weaker than the 2.1 per cent month-on-month growth registered in November.

The gains refer to net growth, that is, new loans which have been granted, after deducting loans that have been …

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