Singapore bank lending continues to slide in June

Singapore

BANK lending in Singapore continued its decline for the fourth consecutive month in June, dragged down by business loans and consumer loans amid the uncertainty from the ongoing Covid-19 pandemic.

Loans through the domestic banking unit - which captures lending in all currencies, but reflects mainly Singapore-dollar lending - dipped 0.7 per cent from the previous month to come in at S$680.36 billion, preliminary data from the Monetary Authority of Singapore (MAS) showed on Thursday.