Bank lending in Singapore was flat in December, dipping 0.05 per cent to $692.4 billion from $692.73 billion a month before that, according to flash data from the Monetary Authority of Singapore (MAS) yesterday.
In November, bank lending rose 0.5 per cent although housing loans continued to slide.
MAS figures for loans through domestic banks capture lending in all currencies, but reflect mainly Singapore-dollar lending. Total borrowing in December rose 3.1 per cent compared with the same period in 2018, the data showed. Business lending dipped 0.04 per cent to $429.61 billion for the month. Loans to most sectors – including building and construction, general commerce and financial institutions – rose, but not enough to offset the overall dip. Sectors that recorded a drop in lending include agriculture, mining and quarrying, manufacturing and transport, storage and communication.
Consumer lending also edged down 0.1 per cent to $262.79 billion in December, owing to a fall in housing and bridging loans as well as car and share financing loans.
Housing loans, which make up about three-quarters of consumer lending, slipped 0.1 per cent to $200.74 billion.