BANKS in Singapore wrote off S$15.6mil (RM32.76mil) in credit-card debt in April – the highest monthly amount on record that they have failed to recover from borrowers.
The bad debts were run up by professionals and businessmen alike, as the lacklustre economy and rising unemployment took their toll, banks said.
Already a subscriber? Log in.
Limited time offer:
Just RM5 per month.
Cancel anytime. No ads. Auto-renewal. Unlimited access to the web and app. Personalised features. Members rewards.
Follow us on our official WhatsApp channel for breaking news alerts and key updates!