Singapore bank lending up 0.2% in Feb on business loans: MAS data

DRIVEN by higher business loans amid the virus outbreak that began late January, bank lending in Singapore inched up 0.2 per cent in February from a month ago, fresh preliminary data from the Monetary Authority of Singapore showed on Tuesday.

Loans through the domestic banking unit – which captures lending in all currencies, but reflects mainly Singapore-dollar lending – stood at S$692.85 billion in February, compared with S$691.15 billion in January. Business loans were up 0.6 per cent from January to S$430.91 billion, boosted by a rise in loans to financial institutions, manufacturing, general commerce, business services as well as the transport, storage and communication sector.From a year ago, total lending rose 3.1 per cent.

Canada Canada Latest News, Canada Canada Headlines

Similar News:You can also read news stories similar to this one that we have collected from other news sources.

China slashes rate, pumps US$7 billion into market to counter COVID-19 impactChina's central bank on Monday cut an interest rate on loans to banks by the largest margin in five years and injected 50 billion yuan ($7 ... Drop in the ocean
Source: ChannelNewsAsia - 🏆 6. / 66 Read more »

Finance manager jailed for siphoning S$1.3 million using company's Internet-banking tokensSINGAPORE: Over more than three years, a finance manager siphoned about S$1.3 million from company accounts using Internet-banking tokens meant ...
Source: ChannelNewsAsia - 🏆 6. / 66 Read more »