Bank lending in Singapore flat in September

Bank lending in Singapore flat in September

Loans and advances by banks in Singapore amounted to S$604.5 billion last month compared with S$604.6 billion in August, central bank data showed.

SINGAPORE: Total bank lending in Singapore hardly changed in September from August, according to preliminary data from the Monetary Authority of Singapore (MAS) on Friday (Oct 31).

Loans and advances by banks in Singapore amounted to S$604.5 billion last month compared with S$604.6 billion in August. On a year-on-year basis, total bank lending rose 10.6 per cent in September from S$546.6 billion a year earlier.

Housing and bridging loans increased 6.5 per cent last month to S$174.5 billion from S$163.8 billion a year earlier, while credit card lending rose 7 per cent in September to S$9.98 billion from S$9.33 billion in the same period last year.

Overall, total consumer loans rose 5.7 per cent last month to S$233.6 billion from S$220.9 billion in September last year.

- CNA/cy

- wong chee tat :)