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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%

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Bank lending in May slipped over the year for the first time since October 2009 - though this contraction may not last for long.

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 -...

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