Singapore bank lending in December registered flat growth for the second month in a row, reflecting broad weaknesses in both business and consumer lending.
Broad weakness across both business and consumer loans have contributed to flat growth for bank lending in Singapore in December, continuing the trend from the month before, which also registered flat growth, preliminary data released on Thursday by the Monetary Authority of Singapore (MAS) showed.
Loans from the domestic banking unit stood at $671.7 billion in December 2018, compared to $671.9 billion in November 2018. Both business and consumer lending remained flat, though the sums grew from the year before.
Loans to businesses stood at $405.5 billion in December 2018 – a 4 percent year-on-year increase, while consumer loans stood at $266.2 billion – 1.5 percent more year-on-year, according to MAS data.
