March 29, 2018 / 2:19 AM / in a year

Singapore February bank lending rises 0.1 percent from month ago

SINGAPORE, March 29 (Reuters) - Singapore’s total bank lending in February rose 0.1 percent from the month earlier, on the back of increased loans to businesses, central bank data showed on Thursday.

Loans and advances by domestic banking units in the city-state amounted to S$650.9 billion last month, up from S$650.6 billion in January.

Bank lending in February rose 3.8 percent from a year earlier.

Loans and advances in Asian currency units (ACU) rose to S$617.6 billion in February from S$603.4 billion in January.

The ACU market refers to loans denominated in currencies other than the Singapore dollar. (Reporting by Fathin Ungku; Editing by Sunil Nair)

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