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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%
Add BT as a preferred sourcePublished Tue, Jun 30, 2015 · 09:50 PM
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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.
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