Singapore bank lending ticks down in January as business loans decline

Bank lending ticked down by 0.2 per cent in January on a month-on-month basis amid declining business loans, preliminary Monetary Authority of Singapore data showed on Friday.

Loans through the domestic banking unit – which capture lending in all currencies, but reflect mainly Singapore-dollar lending – stood at S$691.15 billion in January, compared with S$692.4 billion in December 2019. But from a year ago, it rose 3 per cent. Business loans fell 0.3 per cent from December to S$428.35 billion, amid a drop in loans to financial institutions, manufacturing, general commerce and business services firms.

Consumer loans remained largely steady at S$262.81 billion compared with December's S$262.79 billion, but fell 1 per cent year on year. Within consumer loans, housing and bridging loans was mostly flat from a month ago at S$200.83 billion in January – an improvement after 12 straight months of declines - compared to S$200.74 billion in December. On a year-on-year basis, however, it was down 1.7 per cent. Housing and bridging loans makes up about three quarters of consumer spending.

México Últimas Noticias, México Titulares

Similar News:También puedes leer noticias similares a ésta que hemos recopilado de otras fuentes de noticias.

Singapore bank lending dips 0.2% in January from December on weaker business loansSINGAPORE - Bank lending dipped by 0.2 per cent in January, compared with the month before on a drop in loans to businesses, according to flash data from the Monetary Authority of Singapore on Friday (Feb 28).. Read more at straitstimes.com. ..more bad news on the way.
Fuente: The Straits Times - 🏆 8. / 63 Leer más »

Coronavirus: US firms still have faith in Singapore as business hubDespite the outbreak of the coronavirus here and globally, 98 per cent of member companies surveyed by the American Chamber of Commerce in Singapore (AmCham) said they were still confident in Singapore as a business destination. One reason was the Government's response to...
Fuente: thenewpaper - 🏆 7. / 63 Leer más »

Qatar Airways’ Singapore Premium Lounge pushes the boundaries of business class with its bespoke offQatar Airways’ Singapore Premium Lounge pushes the boundaries of business class with its bespoke offerings
Fuente: ChannelNewsAsia - 🏆 6. / 66 Leer más »