Singapore bank lending points to 'green shoots' in recovery

BANK lending in Singapore rose for the fifth straight month in March as home loans continue to climb.

Loans through the domestic banking unit - which captures lending in all currencies, but reflects mainly Singapore-dollar lending - grew 0.7 per cent to S$691.23 billion in March, from S$686.73 billion in February, data from the Monetary Authority of Singapore showed on Friday.

OCBC Treasury Research said the latest bank loans data "reinforces the green shoots story" in the Singapore economic recovery. "It is likely that the overall bank loans data may revert to modest positive on-year growth in the coming months."