The total bank lending in Singapore in July amounted to 597.4 billion Singapore dollars (477. 9 billion U.S. dollars), according to the preliminary statistics released by the Monetary Authority on Friday.
This is slightly lower than the 597.7 billion Singapore dollars in June. However, on a year-on-year basis, the total bank lending in July went up 10.8 percent.
Housing and bridging loans grew 7 percent to 172.6 billion Singapore dollars, while credit cards lending grew by 6.8 percent to 9.75 billion Singapore dollars, the Monetary Authority said.
Consumer loans in July amounted to 231.1 billion Singapore dollars, while business loans amounted to 366.3 billion Singapore dollars.