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Singapore's Banking Sector Lends Record SG$917 Billion in May

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Singapore's banking sector lent a record SG$917.7 billion to consumers and businesses in May, up from SG$908.4 billion in the previous month, according to data released Wednesday by the Monetary Authority of Singapore.

The lending value beat the Trading Economics forecast of SG$912 billion, and compared with the SG$844.6 billion in loans extended a year earlier.

Business loans jumped to SG$557.76 billion from SG$551.28 billion in April, while consumer loans edged up to SG$359.97 billion from SG$357.10 billion a month prior.

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