Singapore bank lending up 0.2% in Feb: MAS preliminary data

BANK lending in Singapore increased by 0.2 per cent from a month ago, reversing from a slight contraction in January, preliminary data from the Monetary Authority of Singapore showed on Friday.

Loans through domestic banking units - which captures lending in all currencies, but reflects mainly Singapore-dollar lending - stood at S$672 billion in February, compared with S$671 billion a month ago.

From a year ago, total lending rose 3.3 per cent in February. This was a shade stronger than the 3.2 per cent year-on-year gain posted in January.