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by Li Qian
Singapore’s total loans and advances including bills financing of Domestic Banking Units (DBU) grew by 1.37 percent year on year this April, according to data released by the Monetary Authority of Singapore (MAS) on Friday.
It marks the 31st straight month of positive growth of Singapore’s domestic bank lending.
On a month-on-month basis, the total loans and advances of DBUs increased by 0.02 percent to a predicted 676.26 billion Singapore dollars (about 490.45 billion U.S. dollars) in April, compared to a 0.57 percent increase for March.
In April, Singaporean DBU’s loans to businesses grew 2.29 percent year on year and 0.06 percent month on month, to 411.7 billion Singapore dollars. DBU’s consumer loans in April was 264.57 billion Singapore dollars, down 0.03 percent year on year and 0.04 percent month on month.
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