SUBSCRIBERS

Singapore bank lending slips in May for first time since 2009

But contraction not expected to last; Month on month, May lending reverses 5 months of slide to rise 0.5%

Published Tue, Jun 30, 2015 · 09:50 PM

Singapore

BANK lending in May slipped over the year for the first time since October 2009 - though this contraction may not last for long. This comes as loan growth compared to a year ago has been decelerating for nine consecutive months.

Loans through the domestic banking unit - which essentially captures lending in all currencies but mainly reflects Singapore dollar lending - stood at S$597 billion in May, preliminary data from the Monetary Authority of Singapore showed on Tuesday.

BT is now on Telegram!

For daily updates on weekdays and specially selected content for the weekend. Subscribe to t.me/BizTimes