Singapore’s bank lending eases from 15-month high in April

Total bank lending in Singapore came in at SGD 804.3 billion in April, data by the Monetary Authority of Singapore showed.

That figure compared with a 15-month high of SGD 807.8 billion in March.

Lending to corporate sector decreased to SGD 491.8 billion in April from SGD 495.3 billion in March, the data showed.

In April, lending shrank for agriculture, mining and quarrying (SGD 3.9 billion from SGD 4.2 billion in March), manufacturing (SGD 20.8 billion from SGD 22.2 billion in March), building and construction (SGD 168.9 billion from SGD 170.3 billion in March) and for general commerce (SGD 88.1 billion from SGD 89.8 billion in March).

In the meantime, lending to households was little changed at SGD 312.5 billion in April.

The USD/SGD currency pair settled 0.10% higher at 1.3510 on Friday. For the week, the exotic currency pair edged up 0.11%, as it extended the gain from the preceding week.

The Forex pair settled in proximity to a two-week high of 1.3537.