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Singapore February bank lending rises to S$627.4 billion, up 1.7 percent m/m
March 31, 2017 / 5:28 AM / 8 months ago

Singapore February bank lending rises to S$627.4 billion, up 1.7 percent m/m

SINGAPORE (Reuters) - Singapore’s total bank lending in February rose as lending to financial institutions, general commerce as well as building and construction increased, central bank data showed on Friday.

FILE PHOTO - A Singapore one dollar coin rests on top of Singapore two dollar notes in this April 13, 2010 photo illustration. REUTERS/Tim Chong/File Photo

Loans and advances by domestic banking units in the city-state amounted to S$627.4 billion last month, rising from S$617.1 billion in January.

Bank lending fell for the first time in four months in January.

Bank lending in February rose 5.2 percent from a year earlier

Loans and advances in Asian currency units (ACU) rose 0.1 percent to S$541.3 billion in February from S$540.8 billion in January.

The ACU market refers to loans denominated in currencies other than the Singapore dollar.

Reporting by Fathin Ungku; Editing by Shri Navaratnam

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