Singapore Bank Lending Hits Fresh Record High

Singapore's bank loans increased to a new record high of SGD 886.1 billion in December 2025, up from SGD 873.1 billion in the previous month. Loans to businesses surged to SGD 538.7 billion from SGD 528.3 billion in November, primarily due to increased lending to manufacturing (SGD 27.6 billion vs SGD 27.4 billion), general commerce (SGD 99.1 billion vs. SGD 92 billion), building construction (SGD 182.4 billion vs SGD 179.5 billion), and transportation, storage & communication (SGD 45.8 billion vs. SGD 44.7 billion). By contrast, loans to financial and insurance activities fell to SGD 134.5 billion from SGD 136.1 billion. In addition, consumer loans climbed to SGD 347.4 billion from SGD 344.8 billion, driven mainly by higher housing and bridging loans (SGD 244.1 billion vs SGD 242.6 billion), car loans (SGD 9.3 billion vs SGD 9.1 billion), credit card loans (SGD 17.8 billion vs SGD 17.6 billion), and other personal loans (SGD 75.6 billion vs SGD 74.8 billion).

Singapore's bank loans increased to a fresh record peak of SGD 873.1 billion in November 2025, from SGD 866.1 billion in the previous month. Loans to businesses jumped to SGD 528.3 billion from SGD 523.6 billion in October, primarily due to increased lending in manufacturing (SGD 27.4 billion vs SGD 26.6 billion), agriculture, mining, and quarrying (SGD 3.4 billion vs SGD 3.2 billion), general commerce (SGD 92 billion vs SGD 90.3 billion), transportation, storage & communication (SGD 44.7 billion vs SGD 44.3 billion), and financial and insurance activities (SGD 136.1 billion vs SGD 133.4 billion). In addition, consumer loans increased to SGD 344.8 billion from SGD 342.5 billion, driven mainly by higher housing and bridging loans (SGD 242.6 billion vs SGD 241.4 billion), car loans (SGD 9.1 billion vs SGD 9 billion), credit card loans (SGD 17.6 billion vs SGD 17.1 billion), and other personal loans (SGD 74.8 billion vs SGD 74.3 billion).

Singapore’s bank loans rose to a fresh record high of SGD 866.1 billion in October 2025, up from SGD 863.8 billion in September, supported by increases in consumer loans. Consumer loans rose to SGD 342.5 billion from SGD 339.7 billion, driven primarily by higher housing and bridging loans (SGD 241.4 billion vs 240.0 billion in September), car loans (SGD 9.0 billion vs 8.9 billion), credit card loans (SGD 17.1 billion vs 17.0 billion), and other personal loans (SGD 74.3 billion vs 73.2 billion). Meanwhile, loans to businesses fell to SGD 523.6 billion in October from SGD 524.0 billion in September, driven by lower lending in manufacturing (SGD 26.6 billion vs 26.8 billion), agriculture, mining, and quarrying (SGD 3.2 billion vs 3.4 billion), and building & construction (SGD 179.7 billion vs 181.2 billion). By contrast, loans rose slightly for general commerce (SGD 90.3 billion vs 90.1 billion) and transportation, storage & communication (SGD 44.3 billion vs 44.2 billion).