BankBazaar: Singapore – December 29, 2017
SINGAPORE: The total number of loans given out by banks went up by 0.6% month-on-month in November, lower than the 1.4% rise seen in the corresponding period last month. These numbers were released by MAS (Monetary Authority of Singapore). The report stated that in 2016, the year-on-year growth of bank lending was 7.1% as compared to October, which was 6.8%.
The Monetary Authority of Singapore also mentioned in their preliminary data that the domestic banks gave out loans, in Singapore dollar alone, at S$654 billion in November from S$650 billion in October, 2017. These domestic banks approve loans in other currencies as well.
The data further showed numbers for business loans, which increased by 0.5% (S$393 billion) in November from 1.9% in October. The loans for consumers grew from 0.6% in October to 0.9% (S$261 billion) in November, this year.