Total bank lending in Singapore up 1.4% in October

Here's the main growth driver.

According to a report by Reuters, total bank lending in Singapore in October rose 1.4 percent from September, helped by an increase in loans for general commerce and financial institutions, central bank data showed on Friday.

Loans and advances by domestic banking units in the city-state amounted to S$554.3 billion ($441.57 billion) last month, up from S$546.6 billion in September.

From a year earlier, October bank lending rose 15.6 percent.

Read full report here.