Domestic bank lending slips to $607.5b in January

Due to lower general commerce loans.

Singapore's total bank lending recorded a month-on-month drop in January. Data released by the Monetary Authority of Singapore showed that total loans and advances by local banks amounted to $607.47b in January, down marginally from $607.9b in December.

The amount of loans to general commerce firms and financial institutions showed the biggest drop. This offset the growth in the amount of loans to the manufacturing, building, agriculture, and transport sectors.

Housing and bridging loans increased to $178.2b, while total consumer loans grew to $237.2b.
 

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