Singapore May bank lending up 1.1 pct from April

SINGAPORE, June 30 Sun Jun 29, 2014 10:22pm EDT

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SINGAPORE, June 30 (Reuters) - Total bank lending in Singapore grew 1.1 percent in May from April, led by more loans to general commerce and financial institutions, central bank data showed on Monday.

Loans and advances by domestic banking units in the city-state amounted to S$597.5 billion ($478.34 billion) last month, up from S$591.1 billion in April, according to the Monetary Authority of Singapore.

From a year earlier, May bank lending rose 13.0 percent.

Housing and bridging loans expanded 7.6 percent in May to S$170.7 billion from S$158.7 billion a year earlier, according to the central bank data.

Loans and advances in Asian currency units (ACU) increased to S$515.7 billion in May from S$512.5 billion in April.

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 = 1.2491 Singapore dollar) (Reporting by Jongwoo Cheon; Editing by Richard Borsuk)

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