Singapore bank lending dips 0.2% in January from December on weaker business loans

SINGAPORE - 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 .

Total borrowing in January crept down to $691.15 billion from the $692.4 billion in December last year, the data showed.Month-on-month, total loans to businesses declined 0.3 per cent to $428.35 billion. The was mostly due to the drop in leading to financial institutions. Total consumer loans inched up to $262.81 billion from $262.79 billion in December on a rise in housing loans, which account for three-quarters of consumer lending.

Housing loans inched up 0.04 per cent to $200.83 billion. Other types of consumer loans such as car, credit cards and share financing went down. MAS figures for loans through domestic banks capture lending in all currencies, but reflect mainly Singapore-dollar lending.

..more bad news on the way.

United Kingdom United Kingdom Latest News, United Kingdom United Kingdom Headlines

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

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...
Source: thenewpaper - 🏆 7. / 63 Read more »

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
Source: ChannelNewsAsia - 🏆 6. / 66 Read more »

Former director of women's and children's healthcare group Singapore O&G charged over business dealSINGAPORE - A dispute between a Malaysian man and the company where he was previously the lead independent director has ended in court with him facing criminal charges.. Read more at straitstimes.com.
Source: The Straits Times - 🏆 8. / 63 Read more »