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Singapore Feb bank lending up 0.4 pct from Jan, 14.6 pct y/y
March 31, 2014 / 2:16 AM / in 4 years

Singapore Feb bank lending up 0.4 pct from Jan, 14.6 pct y/y

SINGAPORE, March 31 (Reuters) - Total bank lending in Singapore rose 0.4 percent in February from January, led by loans to manufacturing companies, central bank data showed on Monday.

Loans and advances by domestic banking units in the city-state amounted to S$584.5 billion ($464.1 billion) last month, up from S$582.2 billion in January, according to the Monetary Authority of Singapore.

From a year earlier, February bank lending rose 14.6 percent.

Loans and advances in Asian currency units (ACU) increased to S$496.3 billion in February from S$488.4 billion in January.

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

The data came ahead of the central bank’s semi-annual monetary policy meeting in April.

For details of the latest monthly statistics, see www.mas.gov.sg ($1 = 1.2595 Singapore Dollars) (Reporting by Jongwoo Cheon; Editing by Ryan Woo)

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