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Financials

Singapore Dec bank lending edges up on construction sector loans

SINGAPORE, Jan 31 (Reuters) - Singapore’s total bank lending in December rose 1.1 percent from November, on the back of a rise in loans to the building and construction sector, central bank data showed on Tuesday.

Loans and advances by domestic banking units in the city-state amounted to S$617.3 billion last month, up from S$610.6 billion in November.

Bank lending in December rose 2.9 percent from a year earlier.

Loans and advances in Asian currency units (ACU) fell to S$ 538.2 billion in December from S$539.4 billion in November.

The ACU market refers to loans denominated in currencies other than the Singapore dollar. (Reporting by Fathin Ungku; Editing by Sunil Nair)

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