Singapore December bank lending edges up on construction sector loans

singapore-dollarSINGAPORE: Singapore’s total bank lending in December rose 1.1% from November, on the back of a rise in loans to the building and construction sector, central bank data showed on Tuesday.

Loans and advances by domestic banking units in the city-state amounted to S$617.3 billion last month, up from S$610.6 billion in November.

Bank lending in December rose 2.9% from a year earlier.

Loans and advances in Asian currency units (ACU) fell to S$538.2 billion in December from S$539.4 billion in November.

The ACU market refers to loans denominated in currencies other than the Singapore dollar.