January’s showing was led by a 0.9% increase in business loans to $322.73 billion.
Singapore kicked off 2021 with an increase in its bank lending for the third consecutive month in January following higher loans to businesses.
Total loans from the domestic banking unit – which captures lending in all currencies, but mainly reflects Singapore dollar lending – came in at $683.59 billion. This is up 0.7% from the $678.72 billion disbursed in December 2020, the Monetary Authority of Singapore (MAS) revealed on Mar 1.
