August 31, 2017 / 2:15 AM / a year ago

Singapore July bank lending falls 0.5 pct m/m

SINGAPORE, Aug 31 (Reuters) - Singapore’s total bank lending in July fell 0.5 percent from June, due to a decline in loans to businesses, central bank data showed on Thursday.

Loans and advances by domestic banking units in the city-state amounted to S$632.6 billion last month, down from S$635.5 billion in June.

Bank lending in July rose 5.9 percent from a year earlier.

Loans and advances in Asian currency units (ACU) fell to S$553.4 billion in July from S$555.2 billion in June. It was at S$518.2 billion a year earlier.

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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