Singapore March bank loans hit strong pace on trade, oil sector, home loans

Singapore

BANK lending in Singapore surged in March from a year ago at the strongest pace since November 2014, led by stronger business lending that reflects gains in trade loans, loans to oil-related companies, as well as in mortgages.

Bank lending gained 6.3 per cent to S$628 billion last month, albeit following several months of contraction in most of 2016, preliminary data from the Monetary Authority of Singapore on Friday showed.