Bank lending dips in July, weighed down by fall in business loans
The 1.3% dip to S$418.01b in business loans reverses last six months' growth streak
Add BT as a preferred source
Singapore
A DROP in business loans was the main drag to total bank lending in July, even as housing loans continued to slide for the seventh straight month.
Bank lending in Singapore dipped 0.9 per cent to S$680.7 billion in July from a month ago, on broad weakness across both business and consumer loans. This is its first decline after five months of growth, going by preliminary data from the Monetary Authority of Singapore (MAS).
TRENDING NOW
DBS, OCBC and UOB shares hit all-time highs as sentiment improves
Targeted credit relief: Vietnam steers funding to Vingroup, Sun Group, Masterise megaprojects
E-commerce job cuts signal S-E Asia’s shift from scaling to deeper user engagement
Employers want AI-fluent employees. Hiring them is the challenge
