Singapore March bank lending up 0.6 pct from Feb, 13.5 pct y/y

SINGAPORE, April 30 Tue Apr 29, 2014 10:19pm EDT

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SINGAPORE, April 30 (Reuters) - Total bank lending in Singapore grew 0.6 percent in March from February as loans to financial institutions rose, central bank data showed on Wednesday.

Loans and advances by domestic banking units in the city-state amounted to S$587.7 billion ($468.1 billion) last month, up from S$584.5 billion in February, according to the Monetary Authority of Singapore.

From a year earlier, March bank lending rose 13.5 percent.

Housing and bridging loans expanded 7.9 percent in March to S$168.9 billion from S$156.6 billion a year earlier, according to the central bank data.

Loans and advances in Asian currency units (ACU) increased to S$508.1 billion in March from S$496.3 billion in February.

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 = 1.2555 Singapore Dollars) (Reporting by Jongwoo Cheon; Editing by Rachel Armstrong)

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