Singapore July bank lending falls 0.5% m-o-m
[SINGAPORE] Singapore's total bank lending in July fell 0.5 per cent from June, due to a decline in loans to businesses, data from the Monetary Authority of Singapore (MAS) showed on Thursday.
Loans and advances by domestic banking units in the city-state amounted to S$632.6 billion last month, down from S$635.5 billion in June.
Bank lending in July rose 5.9 per cent from a year earlier.
Loans and advances in Asian currency units (ACU) fell to S$553.4 billion in July from S$555.2 billion in June. It was at S$518.2 billion a year earlier.
The ACU market refers to loans denominated in currencies other than the Singapore dollar.
REUTERS
BT is now on Telegram!
For daily updates on weekdays and specially selected content for the weekend. Subscribe to t.me/BizTimes
Banking & Finance
UBS weighs synthetic risk transfer amid capital boost proposals
Money laundering accused Zhang Ruijin slapped with 5 more charges days before scheduled guilty plea
Japanese yen slides back towards 34-year low after brief spike
China’s Bank of Communications Q1 profit rises 1.44%
HSBC’s private bank shuts independent asset management business in HK, Singapore
Nomura Q4 net profit jumps almost eight-fold on retail income surge