Singapore records 3.16 pct growth in domestic bank lending for January

Source: Xinhua | 2019-03-01

Singapore's total loans and advances including bills financing of Domestic Banking Units (DBU) grew 3.16 percent year-on-year in January 2019, according to data released by the Monetary Authority of Singapore (MAS) on Thursday.
It marks the 28th straight month of positive growth of Singapore's domestic bank lending.
On a month-on-month basis, the total loans and advances of DBUs decreased 0.08 percent to a predicted 671.21 billion Singapore dollars (about 497.58 billion U.S. dollars) in January, compared to a 0.02-percent decrease for December 2018.
In January, Singaporean DBU's loans to businesses grew 4.76 percent year-on-year and 0.06 percent month-on-month, to 405.71 billion Singapore dollars. DBU's consumer loans in January was 265.5 billion Singapore dollars, up 0.82 percent year-on-year, but down 0.28 percent month-on-month.