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Total bank lending in Singapore holds steady in June

Preliminary data from the Monetary Authority of Singapore (MAS) showed that total bank loans for the month amounted to S$597.7 billion, up from S$597.5 billion in May.

SINGAPORE: Total bank lending in Singapore remained mainly unchanged in June, edging up 0.03 per cent from the previous month.

Preliminary data from the Monetary Authority of Singapore (MAS) on Thursday (July 31) showed that total bank loans for the month amounted to S$597.7 billion, up from S$597.5 billion in May.

Total bank lending rose 12.3 per cent last month compared to the same period a year earlier. Housing and bridging loans rose 0.6 per cent in June to S$171.8 billion, from S$170.7 billion in May. The loans, however, increased 7.5 per cent compared to June 2013. 

Consumer loans also rose 0.6 per cent on-month in June to S$230.4 billion. This includes credit cards lending, which rose nearly 2 per cent to S$9.85 billion in June from S$9.66 billion in May.

Meanwhile, loans to businesses fell 0.3 per cent in June to S$367.3 billion.

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