Total bank lending bucks 4-month losing streak with modest gains in May

Loans and advances grew to $597b.

Total bank lending in Singapore finally bucked its four-month losing streak with a modest rise in May, data from the Monetary Authority of Singapore showed today.

Loans and advances by domestic banking units (DBUs) grew to $597.0b in May, a tad higher than the $594.3b recorded in April. However, this is slightly below the $597.5b booked in the same month last year, and well below the recent peak of $608.2b in November 2014.

Total business loans grew to $359.7b in May, while consumer loans were fairly flat at $237.4b.