Singapore Jan bank lending up 1.4 pct from Dec, 16.5 pct y/y

SINGAPORE Thu Feb 27, 2014 10:54pm EST

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SINGAPORE Feb 28 (Reuters) - Total bank lending in Singapore rose 1.4 percent in January from December, led by loans to financial institutions, central bank data showed on Friday.

Loans and advances by domestic banking units in the city-state amounted to S$582.2 billion ($460.3 billion) last month, up from S$574.2 billion in December, according to the Monetary Authority of Singapore.

From a year earlier, January bank lending rose 16.5 percent.

Loans and advances in Asian currency units (ACU) increased to S$488.4 billion in January from S$476.9 billion in December.

The ACU market refers to loans denominated in currencies other than the Singapore dollar.

For details of the latest monthly statistics, see www.mas.gov.sg ($1 = 1.2649 Singapore dollars) (Reporting by Jongwoo Cheon; Editing by Kim Coghill)

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