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    Singapore Bank Lending Increases by 0.6% in November from Last Month in 2017, states MAS

    MAS released a data report showing 0.6% increase in Singapore bank lending in November, 2017.

    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.

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