Singapore Bank Lending Climbs to New Record High

Singapore’s bank loans increased to a new record high of SGD 917.7 billion in May 2026 from SGD 908.4 billion in the previous month. Loans to businesses advanced to SGD 557.8 billion from SGD 551.3 billion, driven mainly by higher lending to manufacturing (SGD 28.1 billion vs SGD 27.3 billion), building and construction (SGD 185.2 billion vs SGD 184.1 billion), transportation, storage, and communication (SGD 49.0 billion vs SGD 47.5 billion), and financial and insurance activities (SGD 148.0 billion vs SGD 142.5 billion). Moreover, consumer loans rose to SGD 360.0 billion from SGD 357.1 billion, lifted by higher housing and bridging loans (SGD 251.4 billion vs SGD 249.9 billion), credit card (SGD 17.7 billion vs SGD 17.3 billion), share financing (SGD 738.9 billion vs SGD 704.8 billion), and other personal loans (SGD 80.3 billion vs SGD 79.4 billion).

Singapore’s bank loans increased to a new record high of SGD 908.4 billion in April 2026 from SGD 902.3 billion in the previous month. Loans to businesses advanced to SGD 551.3 billion from SGD 547.6 billion, mainly supported by higher lending to manufacturing (SGD 27.3 billion vs SGD 25.3 billion), building and construction (SGD 184.1 billion vs SGD 183.7 billion), and professional, scientific, technical, administrative, and support services activities (SGD 17.1 billion vs SGD 15.9 billion). Additionally, consumer loans rose to SGD 357.1 billion from SGD 354.7 billion in March, mainly driven by higher housing and bridging loans (SGD 249.9 billion vs SGD 248.3 billion), other personal loans (SGD 79.4 billion vs SGD 78.7 billion), car loans (SGD 9.8 billion vs SGD 9.7 billion), and share financing (SGD 0.7 billion vs SGD 0.6 billion). In contrast, credit card lending edged down to SGD 17.3 billion from SGD 17.4 billion.

Singapore’s bank loans climbed to a fresh record high of SGD 902.3 billion in March 2026 from SGD 893.6 billion in the previous month. Loans to businesses increased to SGD 547.6 billion from SGD 541.5 billion, largely driven by higher lending to general commerce (SGD 99.9 billion vs SGD 90.5 billion in February), transport, storage and communication (SGD 48.2 billion vs SGD 46.2 billion), and financial and insurance activities (SGD 142.6 billion vs SGD 141.5 billion). In addition, consumer loans rose to SGD 354.7 billion from SGD 352.2 billion, mainly due to increased housing and bridging loans (SGD 248.3 billion vs 246.8 billion), other personal loans (SGD 78.7 billion vs SGD 77.8 billion), car loans (SGD 9.7 billion vs SGD 9.5 billion), and credit cards (SGD 17.4 billion vs SGD 17.3 billion). In contrast, activities fell for share financing (SGD 0.6 billion vs SGD 0.7 billion).