Singapore’s domestic banking lending grows by 2.2 pct on year in March

Singapore’s total loans and advances including bills financing of Domestic Banking Units (DBU) grew by 2.2 percent year-on-year this March, according to data released by the Monetary Authority of Singapore (MAS) Tuesday.

Singapore’s total loans and advances including bills financing of Domestic Banking Units (DBU) grew by 2.2 percent year-on-year this March, according to data released by the Monetary Authority of Singapore (MAS) Tuesday.

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It marks the 30th straight month of the positive growth of Singapore’s domestic bank lending.

On a month-on-month basis, the total loans and advances of DBUs increased by 0.57 percent to a predicted 676.14 billion Singapore dollars (about 496.49 billion U.S. dollars) in March, compared to a 0.17 percent increase for February.

In March, Singaporean DBU’s loans to businesses grew 3.43 percent year-on-year and 1 percent month-on-month to 411.47 billion Singapore dollars.

DBU’s consumer loans in March was 264.67 billion Singapore dollars, up 0.34 percent year-on-year but down 0.11 percent month-on-month. (China daily)

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