Singapore April bank lending up 0.6 pct from March

SINGAPORE Thu May 29, 2014 10:19pm EDT

Related Topics

SINGAPORE May 30 (Reuters) - Total bank lending in Singapore grew 0.6 percent in April from March, led by more loans to building and construction, as well as financial institutions, central bank data showed on Friday.

Loans and advances by domestic banking units in the city-state amounted to S$591.1 billion ($471.3 billion) last month, up from S$587.7 billion in March, according to the Monetary Authority of Singapore.

From a year earlier, April bank lending rose 13.2 percent.

Housing and bridging loans expanded 7.3 percent in April to S$169.5 billion from S$157.9 billion a year earlier, according to the central bank data.

Loans and advances in Asian currency units (ACU) increased to S$512.5 billion in April from S$508.1 billion in March.

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 = 1.2543 Singapore dollar) (Reporting by Jongwoo Cheon; Editing by Rachel Armstrong)

FILED UNDER: