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Bank lending flat in April

Total bank loans in April rose just 0.6 per cent from the previous month, central bank data showed on Friday (May 30).

SINGAPORE: Bank lending in Singapore remained flat in April, edging up just 0.6 per cent from the previous month, preliminary data from the Monetary Authority of Singapore (MAS) showed on Friday (May 30).

Total bank loans for the month amounted to S$591.1 billion, up from S$587.7 billion in March and up from S$522.3 billion a year ago, the data showed.

Housing and bridging loans rose 0.4 per cent month-on-month to S$169.5 billion in April, while loans to the building and construction industry increased 2.4 per cent month-on-month to S$93.1 billion.

Consumer loan growth also remained flat in April, edging up 0.3 per cent from March to S$228 billion, while loans to businesses rose 0.7 per cent from March to S$363 billion.

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