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Bank lending in Singapore declines for fourth month in March

Xinhua, April 30, 2015 Adjust font size:

Bank lending in Singapore declined for the fourth month in March as Singapore dollar loans to businesses continued to weaken, the latest data of Monetary Authority of Singapore (MAS) showed on Thursday.

Total loans and advances amounted to 601.12 billion Singapore dollars (455.47 billion U.S. dollars) at the end of March, down from 603.52 billion Singapore dollars at end-February, according to provisional data.

Loans to businesses dipped 0.8 percent month-on-month to 363.51 billion Singapore dollars, but consumer loans edged up 0.2 percent to 237.60 billion Singapore dollars.

Credit card loans declined to 9.94 billion Singapore dollars in March from 10.17 billion Singapore dollars in February. Rollover balances also fell to 5.36 billion Singapore dollars from 5.77 billion Singapore dollars in February. Endi