SINGAPORE - Bank lending in Singapore in August fell for the sixth straight session over the month, preliminary data from the Monetary Authority of Singapore showed on Wednesday . This was largely driven by weaker business lending.
Business lending stood at $423 billion, down 0.4 per cent from a month ago. The growth in loans to manufacturers and financial institutions narrowed from a month ago. In particular, loans to the hefty financial-institutions segment fell 2.1 per cent in August from a month ago to $101 billion. Consumer loans growth stayed in positive territory. In August, it lifted 0.3 per cent from a month ago to $255 billion, pushed in part by a sharp jump in share financing. Share financing was up 13.7 per cent in August from a month ago to $1.75 billion, reversing from a month-on-month decline in July.
From a year ago, total lending in August fell 1 per cent, marking the third consecutive weakening since June.
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