SINGAPORE: Singapore's total bank lending rose for the second straight month and hit a five-month high in June. This came on the back of higher loans in the building and construction sector as well as general commerce.

Latest data from the Monetary Authority of Singapore (MAS) released on Friday (Jul 31) showed that total loans and advances by domestic banks amounted to S$606.8 billion last month, the highest since January. This is also 1.5 per cent higher from S$597.8 billion recorded a year earlier.

Total bank lending to businesses rose 2.3 per cent month-on-month to S$368.1 billion last month. Contributing to the rise were loans to the building and construction sector which increased 11.7 per cent on-month to S$116.3 billion, and credit for general commerce grew 2.9 per cent to S$74.9 billion.

Meanwhile, total consumer loans increased 0.6 per cent on-moth to S$238.8 billion. Credit card loans rose 1 per cent to S$9.74 billion in June from S$9.64 billion in May.

Housing and bridging loans rose 0.5 per cent to S$180.3 billion in June from S$179.4 billion a month earlier. These loans totalled S$171.8 billion in June last year.

- CNA/xq

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