BANK lending in Singapore dipped in July from a month ago on broad weakness across both business and consumer loans, preliminary data from the Monetary Authority of Singapore showed on Friday.
Loans through the domestic banking unit – which captures lending in all currencies, but reflects mainly Singapore-dollar lending – stood at S$680.7 billion in July, compared with S$687.08 billion a month ago.Housing loans, which account for three-quarters of consumer lending, dropped for a seventh straight month, on a month-to-month basis, declining 0.2 per cent to S$201.77 billion. Year on year, they were down about 0.8 per cent from S$203.88 billion.
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