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)