December’s showing was led by a 0.5% uptick in consumer loans to $269.62 billion. A substantial contributor to this was housing loans which had climbed 0.4% to $201.36 billion.
Singapore ended 2020 with an increase in its bank lending for the second consecutive month in December, thanks to the continued growth in housing loans.
Total loans from the domestic banking unit – which captures lending in all currencies, but mainly reflects Singapore dollar lending – came in at $678.72 billion. This is up 0.3% from the $676.67 billion disbursed in November 2020, the Monetary Authority of Singapore (MAS) revealed.
