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Singapore August bank lending climbs to 9-month high
September 30, 2016 / 2:16 AM / a year ago

Singapore August bank lending climbs to 9-month high

SINGAPORE, Sept 30 (Reuters) - Singapore’s total bank lending in August hit a nine-month high on an increase in loans to financial institutions and the construction sector, central bank data showed on Friday.

Loans and advances by domestic banks in the city-state amounted to S$603.9 billion ($442.4 billion) in August, the largest since November 2015, according to data from the Monetary Authority of Singapore. That compared with S$597.2 billion in July.

Lending to the building and construction sector grew to S$120.1 billion in August from S$118.6 billion in July, while loans to financial institutions increased to S$79.4 billion from S$75.8 billion.

Housing and bridging loans in August grew to S$188.3 billion from July’s S$187.7 billion. In August 2015, housing and bridging loans amounted to S$182.0 billion.

For details of the latest monthly statistics, see www.mas.gov.sg

$1 = 1.3652 Singapore dollar Reporting by Jongwoo Cheon; Editing by Jacqueline Wong

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