Published:
Bank lending rises for the first time in six months, boosted by manufacturing loans
Loans reached $592.8 billion in May.
Bank lending in Singapore rose to $592.8 billion in May, marking the first month-on-month increase since November 2015.
Central bank data show that the increase was driven by a surge in manufacturing loans, which rose to $29.1 billion in May from $27.6 billion in April.
Housing and bridging loans also increased to $186.5 billion, from $185.9 billion in the preceding month.
On a year-on-year basis, bank lending is down from $597 billion in May 2015.
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