Bank lending up 1.37% in April

It was buoyed by business loans which rose 2.29% to $411.70b.

Bank lending in Singapore rose 1.37% YoY to $667.14b in April, preliminary data from the Monetary Authority of Singapore (MAS) revealed.

Lending figures grew largely due to increases in business loans, which rose 2.29% to $411.70b. Loans to businesses in the building and construction sector led the gains and grew 13.04% to $138.90b from $122.88b last year.

Loans to general commerce and financial institutions dipped 4.11% and 9.69% YoY to $65.92b and $97.72b respectively.

Meanwhile, housing loans fell to a three-month low at $202.76b. However, this figure is -% higher compared to last year at $202.50b.

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