Singapore records 12th straight monthly rise in bank lending

Source: Xinhua| 2017-10-31 16:49:02|Editor: ZD
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SINGAPORE, Oct. 31 (Xinhua) -- Singapore's total loans and advances by Domestic Banking Units (DBU) grew 6.17 percent year on year in September to 640.68 billion Singapore dollars.

It is a growth for the 12th successive month, central bank showed on Tuesday.

Comparing to the 634.41 billion Singapore dollars in August, the figure rose 0.99 percent month on month, faster than the 0.29 percent growth in the previous month.

In September, DBU's loans to businesses grew 7.97 percent year on year and 1.36 percent month on month, to 383.29 billion Singapore dollars.

In a breakdown, the loans to building and construction reached 120.12 billion Singapore dollars, falling 0.01 percent year on year and accounting for 31.34 percent of the total business loans.

DBU's consumer loans in September reached 257.4 billion Singapore dollars, up 3.61 percent year on year and 0.45 percent month on month. (1 U.S. dollar equals to 1.3612 Singapore dollars)

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