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Local bank lending slipped for the third straight month in March

Singapore Business Review

Due to smaller loans to manufacturers, FIs.

Total loans and advances by domestic banking units (DBU) slipped to $601.1 billion in March, down from $603b in February.

Data released today by the Monetary Authority of Singapore (MAS) showed that loans to the manufacturing sector declined to $28.6b from $31.1b in February, while loans to financial institutions fell to $76.2b from $78.6b in February.

Loans to consumers grew to $237.6b, while housing and bridging loans grew to $179.`b.

On a year-on-year basis, total bank lending increased from $587.7m in March last year.



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