ZCZC
BCN-32
SINGAPORE-BANK-LOAN-FINANCING
Singapore’s domestic bank lending achieves positive y-o-y growth for 23rd
consecutive month
SINGAPORE, Sept. 29, 2018 (BSS/Xinhua) – Singapore’s total loans and
advances including bills financing of Domestic Banking Units (DBU) grew 5.6
percent year on year to a predicted 669.94 billion Singapore dollars in
August, according to data released by the Monetary Authority of Singapore
(MAS) on Friday.
That marked the 23rd straight month for DBUs to achieve year-on-year
growth in total loans and advances.
Meanwhile, the DBU’s total loans and advances grew 0.36 percent month on
month in August, compared to a 0.85 percent decrease for July.
In August, Singaporean DBU’s loans to businesses grew 7.03 percent year on
year and 0.57 percent month on month, to 404.75 billion dollars. In a
breakdown, the loans to building and construction reached 130.63 billion
dollars, rising 8.56 percent year on year.
DBU’s consumer loans in August reached 265.2 billion dollars, up 3.49
percent year on year and 0.05 percent month on month.
BSS/XINHUA/HR/1215