Day: January 3, 2021

Singapore bank lending ticks up in Nov after eight-month decline, Banking & Finance

Fri, Jan 01, 2021 – 5:50 AM

Singapore

SINGAPORE’s bank lending inched up slightly in November to reverse an eight-month decline on continued growth in consumer loans.

Loans through the domestic banking unit – which captures lending in all currencies, but reflects mainly Singapore-dollar lending – rose 0.2 per cent to S$676.67 billion in November, compared with S$675.64 billion in October, according to fresh data from the Monetary Authority of Singapore on Thursday.

Consumer loans extended its growth streak for the fourth straight month, up 0.4 per cent month on month to S$258.31 billion.

This was mainly lifted by housing loans, which grew 0.4 per cent to S$200.46 billion in November.

Unsecured personal loans, excluding credit cards, also increased 0.4 per cent to S$37.59 billion over the same period.

Car loans were up 0.1 per cent to S$8.34 billion, while credit card loans climbed 3