Growth in bank lending eases to 3.7% y-o-y in February

Singapore

BANK lending in Singapore expanded by 3.7 per cent in February from a year ago, the slowest pace since January last year and weaker than the 5.4 per cent year-on-year growth in the previous month.

Loans through the domestic banking unit - which tracks lending in all currencies, but mainly reflects Singapore-dollar lending - stood at S$650.93 billion last month, according to preliminary data from the Monetary Authority of Singapore yesterday.