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SINGAPORE: Bank loans growth in Singapore rose in November, boosted mainly by loans to businesses, according to figures released by the Monetary Authority of Singapore (MAS).
Loans and advances by domestic banking units climbed 2.1 percent in November from October.

This amounted to S$565.8 billion last month, up from S$554.3 billion in October.

Compared to a year ago, November bank lending was up 17.4 percent.

Loans to businesses increased 2.8 per cent to S$341.4 billion in November compared to October.

Meanwhile, consumer loans inched up 1 per cent to S$224.4 billion last month, compared to October.

Mortgage loans continued to record a month-on-month increase.

But car loans fell 1.9 per cent, as consumers await changes to the COE system that will kick in next year.


- CNA/xq