Economic activities such as those in the real estate sector as well as consumer loans led to a double-digit growth in bank lending in March 2023, according to data from the Bangko Sentral ng Pilipinas (BSP). Know more:
ECONOMIC activities such as those in the real estate sector as well as consumer loans led to a double-digit growth in bank lending in March 2023, according to data from the Bangko Sentral ng Pilipinas .
“The sustained growth in credit is supported by sound Philippine banking system conditions. Looking ahead, the BSP will continue to monitor domestic liquidity dynamics to ensure that credit conditions remain in line with its price and financial stability mandates,” BSP said. This was mainly due to the sustained increase in credit to major industries, specifically electricity, gas, steam, and airconditioning supply ; wholesale and retail trade, and repair of motor vehicles and motorcycles ; financial and insurance activities ; manufacturing ; and real estate activities .
“Outstanding loans to non-residents also increased by 12.6 percent in March from 14.8 percent in the previous month,” BSP added. “Going forward, the BSP will continue to ensure that domestic liquidity conditions remain in line with the prevailing stance of monetary policy, in keeping with the BSP’s price and financial stability mandates,” BSP said.Claims on the private sector grew by 9.6 percent in March from 9.9 percent in February due to the sustained expansion in bank lending to non-financial private corporations and households.
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.
287 PWDs join Taguig Paralympics 2023A total of 287 persons with disabilities (PWDs) participated in the Taguig Paralympics 2023 held at the Taguig City University Auditorium in Barangay Central Bicutan on May 6. ManilaBulletin
Read more »
Miss Universe PH 2023 names Top 5 delegates in runway challengeDelegates of Agusan Del Norte, Bulacan, and Pampanga are part of the Top 5 in all three online challenges.
Read more »
Jasmin Selberg to attend Binibining Pilipinas 2023 finals, Catriona Gray to hostThe Binibining Pilipinas Charities Inc. announced on Saturday, May 6, the prominent names gracing its Binibining Pilipinas 2023 coronation night!
Read more »
‘Unfair judges’: Junna Tsukii airs frustration after settling for karate silver at SEA Games 2023Filipino karateka Junna Tsukii aired her disappointment after settling for a silver medal in karate at the 32nd Southeast Asian Games in Cambodia. | via philstarlife
Read more »
Capiz bet Shayne Maquiran withdraws from Miss Universe Philippines 2023 talent presentation due to health condition“It pains me to admit that my health condition is preventing me from showcasing my God-given talents to the fullest.' | via philstarlife
Read more »
Google I/O 2023: What To ExpectGoogle will hold its annual tech demo event on May 10, 2023: Google I/O. It usually takes three days, but the company condensed the conference to a single day. The search firm may want more people to
Read more »