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Singapore Jan bank lending slows for the first time 4 months
February 28, 2017 / 2:29 AM / 9 months ago

Singapore Jan bank lending slows for the first time 4 months

SINGAPORE, Feb 28 (Reuters) - Singapore’s total bank lending in January slowed for the first time in four months, due to a fall in general commerce, central bank data showed on Tuesday.

Loans and advances by domestic banking units in the city-state amounted to S$617.1 billion ($439.12 billion) last month, easing from S$617.3 billion in December.

Bank lending in January rose 2.82 percent from a year earlier.

Loans and advances in Asian currency units (ACU) rose 0.5 percent to S$540.8 billion in January from S$538.2 billion in December.

The ACU market refers to loans denominated in currencies other than the Singapore dollar. ($1 = 1.4053 Singapore dollars) (Reporting by Fathin Ungku; Editing by Kim Coghill)

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