The Central Bank of the Philippines published preliminary data showing that outstanding loans of universal and commercial banks (U/KBs), net of reverse repurchase (RRP) placements with the BSP, expanded by 11.1 percent year on year in November, up from 10.6 percent in October. On a month-on-month seasonally adjusted basis, net outstanding U/KB loans rose by 1.0 percent. Resident lending, net of RRPs, grew by 11.3 percent year on year (from 10.7 percent), while loans to non-residents expanded by 3.8 percent (from 6.9 percent), with non-resident loans including foreign currency deposit unit (FCDU) lending. Loans for production activities increased by 9.8 percent (from 9.1 percent), supported by wholesale and retail trade and repair of motor vehicles and motorcycles (9.1 percent), electricity, gas, steam and air-conditioning supply (9.6 percent), and financial and insurance activities (4.4 percent). Consumer loans to residents grew by 23.3 percent (from 24.0 percent), driven by higher credit card and motor vehicle loans. The BSP indicated it will seek to keep domestic liquidity and lending conditions aligned with its price and financial stability mandates.
Central Bank of the Philippines 2025-01-10
Central Bank of the Philippines reports U and KB loan growth rose to 11.1 percent year on year in November
The Central Bank of the Philippines reported an 11.1% year-on-year increase in outstanding loans of universal and commercial banks in November, up from 10.6% in October. Resident lending grew by 11.3%, while non-resident loans expanded by 3.8%. The BSP aims to maintain domestic liquidity and lending conditions in line with its stability mandates.