Tuesday, September 2, 2008

Filipino banks' outstanding loans increase 24.2% y/y in June.

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Filipino banks' outstanding loans increase 24.2% y/y in June. According to preliminary figures of the Bangko Sentral ng Pilipinas (BSP), the outstanding loans of commercial banks in the Philippines, inclusive of reverse repurchase agreements (RRPs) increased by 24.2% y/y in June compared to 15.4% y/y in May. Net of RRPs, bank lending increased by 18.1% y/y in June compared to 15.8% y/y in May. Loans for production purposes increased by 15.7% y/y in June compared to 13.7% y/y in May. Consumption loans increased by 22% y/y during the month compared to 19.9% y/y in May.

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Filipino banks' outstanding loans increase 24.2% y/y in June.

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