Housing and bridging loans up 7.0% in July: MAS

Total bank lending rose 10.8% year-on-year.

Local banks released more housing and bridging loans in July this year, as total bank lending rose 10.8% year-on-year.

Data released today by the Monetary Authority of Singapore revealed that total loans of Domestic Banking Units reached $597.4 billion last month, compared to $539 billion in July last year.

Housing and bridging loans grew to $172.6 billion, up 7% from $161.2 billion in July last year.

Lending to non-bank customers rose across the board year-on-year, except for manufacturing loans and car loans.