April 30, 2018 / 2:17 AM / 3 months ago

Singapore's bank lending rises 1.6 pct on-month in March

SINGAPORE, April 30 (Reuters) - Singapore’s total bank lending rose 1.6 percent in March from a month earlier as lending to financial institutions increased, central bank data showed on Monday.

Loans and advances by domestic banking units in the city-state amounted to S$661.6 billion last month, up from S$650.9 billion in February.

Bank lending in March rose 5.4 percent from a year earlier.

Loans and advances in Asian currency units (ACU) fell to S$613.5 billion in March from S$617.6 billion in February.

The ACU refers to transactions in currencies other than the Singapore dollar. (Reporting by Fathin Ungku Editing by Eric Meijer)

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