Singapore bank lending up 0.7% in Oct: MAS preliminary data

BANK lending in Singapore was up 0.7 per cent in October from a month ago, reversing from a slight contraction in September over the month, preliminary data from the Monetary Authority of Singapore showed on Friday.

Loans through the domestic banking unit - which captures lending in all currencies, but reflects mainly Singapore-dollar lending - stood at S$689 billion in October, compared with S$684 billion a month ago.

From a year ago, total lending rose 2.6 per cent.