Robust business loans save the day for bank lending in June
Growth in business loans more than makes up for the wilting of residential mortgages for the month
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Tay Peck Gek
Singapore
ROBUST business loans more than offset the decline in residential mortgages, resulting in a 0.8 per cent month-on-month increase in total bank lending for the month of June.
Monetary Authority of Singapore (MAS) preliminary data on Wednesday showed that loans to businesses came in stronger at S$423.5 billion in June, up 1.3 per cent month on month and 3.8 per cent year on year.
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