The Central Bank of the Philippines (BSP) published preliminary data showing loans from universal and commercial banks increased by 9.5% year on year in February, up from 9.3% in January. On a seasonally adjusted basis, outstanding loans rose by 0.8% month on month. Outstanding loans to residents grew by 10.1% year on year (from 9.9%), while loans to non-residents fell by 13.2% (from a 10.4% decline). Loans for business activities expanded by 8.6% (from 8.2%), with notable growth in electricity, gas, steam and air-conditioning supply (23.5%), transportation and storage (19.3%), water supply, sewerage and waste management and remediation activities (26.0%), real estate activities (9.0%), and wholesale and retail trade and repair of motor vehicles and motorcycles (8.2%). Consumer loans to residents grew by 20.8%, easing from 21.3% as credit card and motor vehicle loan growth moderated; the series excludes banks’ reverse repurchase agreements with the BSP, and non-resident loans include foreign currency deposit unit lending to non-residents.
Central Bank of the Philippines 2026-03-31
Central Bank of the Philippines reports universal and commercial bank loan growth accelerates to 9.5% year on year in February
The Central Bank of the Philippines published preliminary data showing loans from universal and commercial banks rose by 9.5% year on year in February, with seasonally adjusted outstanding loans up 0.8% month on month. Resident lending grew by 10.1% while non-resident loans declined by 13.2%, driven by an 8.6% expansion in business loans and 20.8% growth in consumer loans amid strong credit to utilities, transport, real estate, trade and household borrowing.