SINGAPORE: Total bank lending in Singapore rose 1.2 percent in August from July as lending for building and construction edged higher, central bank data showed on Tuesday.
Loans and advances by domestic banking units in the city-state amounted to S$604.6 billion (474.75 billion US dollars) last month, compared to S$597.4 billion in July, according to the Monetary Authority of Singapore.
August bank lending rose 11.8 percent from S$540.8 billion a year earlier. Housing and bridging loans grew 6.6 percent year-on-year in August to S$173.5 billion from S$162.7 billion in August 2013, according to the central bank data.
The loans stood at S$172.6 billion in July. Loans and advances in Asian currency units (ACU) were at S$521.3 billion in August, compared to S$524.4 billion in July.
The ACU market refers to loans denominated in currencies other than the Singapore dollar.
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