July bank lending up from June but growth is slimmer
Preliminary MAS data reflects weaker growth in business lending as June has a big construction loan boost
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Singapore
BANK lending in July rose from June, but by a smaller extent compared to a month earlier, preliminary data from the Monetary Authority of Singapore (MAS) showed on Monday. This reflected weaker growth in business lending, given the big boost in construction loans in June.
Loans through the domestic banking unit - which essentially captures lending in all currencies but mainly reflects Singapore-dollar lending - stood at S$610 billion in July, up 0.6 per cent from June, the figures showed. In June, bank lending stood at S$607 billion, up 1.6 per cent from the month earlier.
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