Bank lending limps along in April

BANK lending growth in April held steady compared to March - though this was nearly flat at 0.6 per cent - with both business and consumer loans in April growing at the same pace as they did in March.

Singapore-dollar loans stood at $591 billion in April, preliminary figures released by the Monetary Authority of Singapore (MAS) yesterday showed. These reflect net growth, or new loans that have been granted after deducting loans which have been paid off.

Bank lending growth has been particularly tepid since February, when this stood at 0.4 per cent on a monthly comparison against a 1.4 per cent growth in January.