Local bank lending slipped for the fourth straight month in March

Due to smaller loans to manufacturers, FIs.

Total loans and advances by domestic banking units (DBU) slipped to $601.1 billion in March, down from $603b in February.

Data released today by the Monetary Authority of Singapore (MAS) showed that loans to the manufacturing sector declined to $28.6b from $31.1b in February, while loans to financial institutions fell to $76.2b from $78.6b in February.

Loans to consumers grew to $237.6b, while housing and bridging loans grew to $179.`b.

On a year-on-year basis, total bank lending increased from $587.7m in March last year.

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