Aug bank lending bounces back on business loans
Loans to businesses grow 1.1 per cent month-on-month to S$422.7 billion in August, up from S$418.01 billion, offsetting continued weakness in consumer lending
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Singapore
HIGHER lending across various business segments contributed to an overall 0.6 per cent lift in total bank loans for August, reversing a contraction of 0.9 per cent in July even as housing loans extended their slide for the eighth straight month.
Preliminary data from the Monetary Authority of Singapore on Monday showed that loans to businesses grew 1.1 per cent month-on-month to S$422.7 billion in August, up from S$418.01 billion. Year on year, they were up 4.4 per cent.
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