Singapore’s total bank lending fell yet again in March 2015, its fourth consecutive month of decline, as loans to financial institutions and manufacturers dropped, revealed latest data from the Monetary Authority of Singapore (MAS).
The city-state achieved a total of $601.1 billion worth of loans and advances by domestic banks last month, over $2 billion less compared with the $603.1 billion worth of loans reported in February.
Despite this, bank lending in the month grew 2.3 percent from last year’s $587.7 billion.
Meanwhile, housing and bridging loans increased to $179.1 billion from $168.9 billion a year ago, and from $178.4 in February, MAS data showed.
Nikki De Guzman, Editor at CommercialGuru, wrote this story. To contact her about this or other stories email nikki@propertyguru.com.sg
