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Singapore bank lending drops further in October

Singapore Business Review

Blame it on weak business loans.

Overall bank lending in Singapore dropped 1.1% to $602 billion in October, according to preliminary data frpm the Monetary Authority of Singapore (MAS).

The headline figure was dragged by a 1.9% contraction in business loans, which fell to $360 billion from September.

The preliminary figures show that loans dropped more sharply in October. In September, total bank lending declined by just 0.8%, while business loans fell by 1.6%.



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