Bank lending in Singapore inched 1.2% higher in May

Loans and advances were $528.8b.

According to a report by Reuters, total bank lending in Singapore rose 1.2 percent in May from April.

Loans and advances by domestic banking units in the city-state amounted to S$528.8 billion ($417.5 billion) last month, up from S$522.3 billion in April.

From a year earlier, May bank lending rose 18.8 percent. Loans and advances in Asian currency units (ACU) rose to S$431.7 billion in April from S$417.8 billion in April. The ACU market refers to loans denominated in currencies other than the Singapore dollar.

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