Singapore's November bank lending up 0.6%

Singapore

A DRAG in lending to financial institutions in November led in part to weaker gains in bank lending in Singapore for the month, preliminary data from the Monetary Authority of Singapore on Friday showed.

Loans through the domestic banking unit - which captures lending in all currencies but mainly reflects Singapore-dollar lending - stood at S$654 billion in November, up from S$650 billion in October. This was up 0.6 per cent in the month from October, weaker than the 1.4 per cent month-on-month gain in October.