BANK lending continued to rise in August but money supply growth slowed, Bangko Sentral ng Pilipinas (BSP) data issued on late Friday showed.
BANK lending continued to rise in Aug ust but money supply growth slowed, Bangko Sentral ng Pilipinas data issued on late Friday showed.The outstanding loans of universal and commercial banks, net of reverse repurchase placements with the BSP, grew by 10.7 percent in Aug ust, slightly higher than the 10.4 percent recorded in the previous month.Month-on-month and seasonally adjusted, the expansion was 0.8 percent.Outstanding loans to residents net of RRPs grew by 10.9 percent from 10.
4 trillion from July's revised 7.3 percent.Month-on-month seasonally-adjusted, it contracted by about 0.1 percent.Domestic claims grew by a slower 10.0 percent from 11.4 percent.Private sector claims eased to 11.9 percent from July's 12.0 percent and were said to have been driven by sustained growth in bank lending to businesses and households.Net claims on the central government also slowed, to 8.5 percent from 14.1 percent, as borrowings continued.
Philippines Latest News, Philippines Headlines
Similar News:You can also read news stories similar to this one that we have collected from other news sources.
Land Bank allots P10b for agrarian reform lendingDefining the News
Read more »
Japan's wholesale inflation slows in AugTOKYO ― Japan's annual wholesale inflation slowed in August as the yen's rebound weighed on import costs, data showed on Thursday, taking some pressure off the central bank to address upward price risks with near-term interest rate hikes.
Read more »
Asia's 1st AI-powered SME lending marketplace launches in the PhilippinesASIA'S first AI-powered SME lending marketplace, Kredit Hero, has launched in the Philippines, revolutionizing access to financing for small and medium-sized enterprises (SMEs). By connecting borrowers with a network of partner lenders, the platform addresses the inefficiencies of traditional loan applications.
Read more »
China retains benchmark lending ratesSHANGHAI, China — China unexpectedly left benchmark lending rates unchanged at the monthly fixing on Friday, confounding market expectations that were primed for a move after the Federal Reserve (Fed) delivered an outsized interest rate cut earlier this week.
Read more »
‘ADB’s $24-B lending program to help lift Pinoys from poverty’ | Reine Juvierre S. AlbertoTHE Asian Development Bank’s (ADB) new Country Partner Strategy (CPS) for the Philippines will support the government’s goal of lifting 8 million Filipinos out of poverty by 2028, according to Finance Secretary Ralph G. Recto.
Read more »
LandBank allocates P10B for lending program, eyes 5K as initial borrowersTHE Land Bank of the Philippines announced it has allocated P10 billion for its lending program purportedly to boost food security and sufficiency in the Philippines.
Read more »