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Singapore bank lending flat in November: MAS data

BANK lending in Singapore registered flat growth in November from a month ago, reflecting weakness in business lending, preliminary data from the Monetary Authority of Singapore showed on Monday.

Loans through the domestic banking unit – which captures lending in all currencies, but reflects mainly Singapore-dollar lending – stood at S$672 billion, unchanged from a month ago. This flat performance was weaker than the 0.3 per cent gain a month ago.

Business lending was flat at S$406 billion in November from October, compared to the 0.5 per cent rise the previous month.

Total consumer loans were up 0.1 per cent to S$266 billion in November, the same pace of growth registered in the previous month.

From a year ago, total lending rose 2.8 per cent, weaker than the 3.4 per cent gain posted in October.

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