BusinessWorld’s 1st Quarter Banking Report showed the combined loans of 45 universal and commercial banks (U/KBs) rose by 6.21% year on year to P9.93 trillion in the January-March period, faster than the 5.93% growth in the previous quarter. READ:
Quarter Banking Report showed the combined loans of 45 universal and commercial banks rose by 6.21% year on year to P9.93 trillion in the January-March period, faster than the 5.93% growth in the previous quarter.
However, this pace was slower than the 8.59% growth logged in the previous quarter, but quicker than the 5.84% seen in the first three months of 2021. Meanwhile, the nonperforming loans reached P394.63 billion in the first quarter, 6.19% higher from P371.65 billion in the fourth quarter of 2021. Compared with the first quarter of last year, bad debt rose by 9.05%.
All other loans are considered nonperforming if any principal and/or interest are left unpaid for more than 90 days from contractual due date, or accrued interests for more than 90 days have been capitalized, refinanced, or delayed by agreement. Total loan loss reserves amounted to P363.56 billion in the first quarter, higher than the P341.23 billion seen in the previous quarter and the P325.26 billion last year.
Among banks, BDO Unibank, Inc. had the largest assets with P3.611 trillion as of the first quarter. It was followed by Land Bank of the Philippines with P2.808 trillion, and Metropolitan Bank & Trust Co. with P2.718 trillion.BDO was the top bank with P2.301 trillion worth of loans issued, followed by Bank of the Philippine Islands with P1.456 trillion and Metrobank with P1.192 trillion.