Business Demand Spurs Bank Lending
The month-on-month loan growth of 1.5 percent in June was the fastest since March 2018.
Bank lending in Singapore saw its eighth month of consecutive growth to reach $703.92 billion in June 2021 – up 3.5 percent year-on-year, «The Business Times» reported on Friday, citing data from the Monetary Authority of Singapore (MAS).
Business loans grew 1.9 in June to S$436.76 billion, compared to 0.2 percent growth in May, up 2.2 percent year-on-year, despite loans to building and construction, the largest business segment, falling 0.7 percent to S$151.33 billion. Loans to financial institutions grew 3.6 percent to S$103.51 billion, while loans to general commerce rose 5.4 percent to S$72.6 billion in June.
Consumer loans grew 0.7 percent from May to reach $267.17 billion, up 5 percent year-on-year.
