February 12, 2018 / 5:01 AM / a year ago

Singapore January bank lending falls 0.2 pct m/m

SINGAPORE, Feb 28 (Reuters) - Singapore’s total bank lending in January fell 0.2 percent from December, on the back of lower loans to businesses, central bank data showed on Wednesday.

Loans and advances by domestic banking units in the city-state amounted to S$650.6 billion last month, down from S$651.9 billion in December.

Bank lending in January rose 5.4 percent from a year earlier.

Loans and advances in Asian currency units (ACU) rose to S$603.4 billion in December from S$596.5 billion in December.

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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