Still, this is a 5% increase from the lending a year ago, the Monetary Authority of Singapore (MAS) outlined on Tuesday.
SINGAPORE (June 30): Bank lending in Singapore fell for the third consecutive month in May as both consumer and business loans took a hit from the “circuit breaker” measures restricting the operations of non-essential services throughout the month.
Total loans from the domestic banking unit – which captures lending in all currencies, but mainly reflects Singapore-dollar lending – slipped 0.6% month-on-month to $685.3 billion in May. This is down from the $689.7 billion disbursed in April.
