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Home : Commercial Lending : Singapore May commercial bank loans up 26.1 percent on higher business lending
Singapore May commercial bank loans up 26.1 percent on higher business lendingCommercial bank lending in Singapore grew to S$256.91 billion in May from S$203.80 billion a year ago, led by a jump in business loans on the back of robust construction activity, data from the Monetary Authority of Singapore showed on Monday.
Lending to businesses grew to S$148.56 billion from S$107.98 billion a year earlier, supported by a 51.7 percent increase in construction loans to S$45.58 billion and a 30 percent hike in loans to financial institutions to S$32.98 billion. Consumer lending expanded to S$108.35 billion from S$95.82 billion on a 14.5 percent increase in housing and bridging loans to S$75.04 billion. Total commercial bank lending in May inched up 2.3 percent compared to S$251.06 billion recorded in April. ($1 = S$1.36) yuinmunn.szetoh@thomsonreuters.com http://www.forbes.com/afxnewslimited/feeds/afx/2008/06/29/afx5165876.html 43 times read
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