Bank lending in Singapore jumped 0.7% in June

Loans and advances stood at $532.5b.

According to Reuters, total bank lending in Singapore rose 0.7 percent in June from May, with increases in loans for housing, general commerce and transport, storage and communications, central bank data showed on Wednesday.

Loans and advances by domestic banking units in the city-state amounted to S$532.5 billion ($419.1 billion) last month, up from S$528.8 billion in May. From a year earlier, June bank lending rose 18 percent.

Loans and advances in Asian currency units (ACU) dipped to S$431.5 billion in June from S$431.7 billion in May. The ACU market refers to loans denominated in currencies other than the Singapore dollar.

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