Date: 1st Dec 2012, Saturday

Singapore Banks Loan Out More

The total bank lending in Singapore continued to grow in November 2012, up 15.9 per cent from a year ago in 2011. The latest Monetary Authority of Singapore data showed loans and advances by domestic banking units amounted to S$481.74 billion in November. This was about 0.5 per cent higher than the S$479.42 billion in October.

Total consumer loans rose 1.7 per cent to S$204.8 billion on a month-on-month basis. Housing loans to consumers came in two per cent higher at S$150.3 billion in November. Credit card loans remained stable at about S$8.7 billion.

Meanwhile, loans to businesses in November contracted from S$278.1 billion to S$277 billion.

Updated On: 13.01.01