Singapore's total bank lending in September increased 1.1 percent from August, accelerated from the growth of 0.3 percent in August, according to statistics released Thursday by the Monetary Authority of Singapore.

The loans and advances by domestic banking units in Singapore amounted to 546.6 billion Singapore dollars (440.8 billion U.S. dollars) in September, up from 540.8 billion Singapore dollars ( 436.1 billion U.S. dollars) in August.

On year-on-year terms, the bank lending in September rose 15.7 percent, up from August's 15.4 percent growth.

Loans to businesses increased marginally to 325.6 billion Singapore dollars (262.6 billion U.S. dollars), while consumer loans rose by 0.59 percent to 220.9 billion Singapore dollars (178. 1 billion U.S. dollars).

Housing loans increased by 0.68 percent to 163.8 billion Singapore dollars (132.1 billion U.S. dollars) in September.

Meanwhile, loans and advances in Asian currency units rose to 446.3 billion Singapore dollars (359.9 billion U.S. dollars) in September from 439.0 billion Singapore dollars (354 billion U.S. dollars) in August. Endi

Go to Forum >>0 Comment(s)