Singapore June bank lending at 5-month high on construction loans

[SINGAPORE] Singapore's total bank lending in June hit a five-month high on a rise in loans to the building and construction sector, as well as general commerce, central bank data showed on Friday.

Loans and advances by domestic banks in the city-state amounted to S$606.8 billion last month, the highest since January, according to data from the Monetary Authority of Singapore. That compared with S$597.0 billion in May.

June bank lending grew 1.5 per cent from S$597.8 billion a year earlier.

Housing and bridging loans in June increased 5.0 per cent to S$180.3 billion from S$171.8 billion a year earlier. These loans totalled at S$179.4 billion in May.

Loans and advances in non-Singapore Asian currencies (ACU) were S$554.5 billion in June, down from S$555.7 billion in May.

REUTERS