Business Standard

Singapore December bank lending edges up on construction sector loans

Image

Reuters SINGAPORE

SINGAPORE (Reuters) - Singapore's total bank lending in December rose 1.1 percent from November, on the back of a rise in loans to the building and construction sector, central bank data showed on Tuesday.

Loans and advances by domestic banking units in the city-state amounted to S$617.3 billion last month, up from S$610.6 billion in November.

Bank lending in December rose 2.9 percent from a year earlier.

Loans and advances in Asian currency units (ACU) fell to S$ 538.2 billion in December from S$539.4 billion in November.

The ACU market refers to loans denominated in currencies other than the Singapore dollar.

(Reporting by Fathin Ungku; Editing by Sunil Nair)

 

Disclaimer: No Business Standard Journalist was involved in creation of this content

Don't miss the most important news and views of the day. Get them on our Telegram channel

First Published: Jan 31 2017 | 9:38 AM IST

Explore News