SGX Market Update : Slowdown in bank lending highlights economy’s challenges .

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SINGAPORE (Aug 31): Singapore’s bank loaning keeps on crawling lower, with aggregate credits down 2.2% in July from a year prior.

Information discharged on Wednesday by the Monetary Authority of Singapore show all out bank advances remarkable tumbled to $597.2 billion in July, contrasted and $610.4 billion around the same time a year ago.

The slower pace of loaning by banks mirrors an absence of idealism over an economy that has stayed in the doldrums in late quarters.

Advances to the assembling business fell as industrial facilities keep on slowing generation.

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