31 Oct '11, 9pm

S'pore bank loans up 31.1% in Sept

SINGAPORE - Total bank lending in Singapore rose by 31.1 per cent year-on-year, the highest in more than two decades, to S$405.4 billion last month, led by strong business loans, central bank data showed yesterday. This compares with a 29.7-per-cent year-on-year gain in August, when bank lending amounted to S$393.2 billion. Business loans rose by 41.9 per cent year-on-year last month, the data showed. Housing loans to consumers rose to S$126.6 billion last month from S$125 billion in August. Ms Selena Ling, head of treasury research and strategy at OCBC Bank, noted that business loans are at about 43 per cent higher than the pre-crisis peak of S$163.2 billion in October 2008. She said that overall, year-on-year bank loans growth should probably peak by the end of the year as business expectations point towards a more dovish outlook for the next six months and employers bec...

Full article: http://www.todayonline.com/Business/EDC111101-0000187/Spo...

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