Singapore: Strong demand on property loans
According to the data from the Monetary Authority of Singapore (MAS), loans and advances by domestic banks have amounted to S$610.4 billion only for the last month.
As it seems, the total bank lending in July rose due to stronger demand for property loans from the general commerce sector as data from the central bank has showed on Monday, August 31st. The data shows that the demand for loans has grown, not only from recent months, but from recent years as well.
Comparing loans and advances by the domestic banks in the city state amounted to S$610.4 billion last July from a year previously, we can see that bank lending has grown 2.2% from S$597.4 billion a year ago.
Loans for housing and bridging also increased in July to S$181.6 billion from S$180.3 billion in June. During the same period in 2014, these loans totalled S$172.6 billion. As for loans and advances in non-Singapore Asian currencies (ACU) were S$561.4 billion last July, up from S$554.5 billion in last June.
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