Big banks' lending growth further declined to a 21-month low of 6.5 percent year-on-year in September from 7.2 percent in August, based on Bangko Sentral ng Pilipinas (BSP) data.
Amid high borrowing rates and elevated inflation, big banks ’ lending growth further declined to a 21-month low of 6.5 percent year-on-year in September from 7.2 percent in August, based on Bangko Sentral ng Pilipinas ( BSP ) data. BSP preliminary data released on Monday, Nov. 13, showed that the outstanding loans of the 45 universal and commercial banks -- minus reverse repurchase (RRP) placements with the BSP -- slid to its lowest level since December 2021 of 4.8 percent.
Comparatively, big banks' outstanding loans in 2022 ended on a high note of 13.4 percent versus 4.8 percent in 2021. It reported a large increase from December 2021 of 4.8 percent to 8.5 percent in January 2022 as the economy has started to reopen that year while inflation was still low and the BSP rate has been frozen at two percent since the pandemic began. As the economy expands more post-pandemic, geo-political tensions brought on by the war in Ukraine in 2022 has impacted on the global growth and inflatio
Big Banks Lending Growth Borrowing Rates Inflation Bangko Sentral Ng Pilipinas BSP Outstanding Loans