Loans of universal and commercial banks (U/KBs) in April increased by 9.7 percent year-on-year, data from Bangko Sentral ng Pilipinas (BSP) showed on Wednesday.
Loans of universal and commercial banks in April increased by 9.7 percent year-on-year, data from Bangko Sentral ng Pilipinas showed on Wednesday.
Data also shows that outstanding loans for production activities grew by 8.3 percent in April from 9.0 percent in the previous month, largely driven by the continued rise in lending to key sectors, particularly electricity, gas, steam and air-conditioning supply. Loans for wholesale and retail trade and repair of motor vehicles and motorcycles also rose 10.3 percent, for manufacturing 9.3 percent, for information and communication, 19.0 percent, and real estate activities, 4.5 percent.
The sustained expansion in bank lending activity suggests that domestic liquidity remains sufficient to support economic activity.Looking ahead, the BSP said it will continue to ensure that domestic liquidity and credit dynamics are consistent with the prevailing stance of monetary policy, in keeping with its price and financial stability mandates.
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