The Central Bank of the Philippines released quarterly statistics on banks’ Foreign Currency Deposit Units (FCDU), showing outstanding FCDU loans at USD 15.82 billion at end-December 2024, up 0.5% from end-September 2024 and 4.3% year-on-year. FCDU deposit liabilities stood at USD 55.46 billion, down 3.5% quarter-on-quarter but 1.9% higher than end-December 2023. The maturity profile remained predominantly medium- to long-term, with loans payable over more than one year accounting for 77.1% of the portfolio. Loans to residents totalled USD 9.91 billion (62.7% of outstanding), led by exposures to merchandise and service exporters (USD 2.52 billion), towing, tanker, trucking, forwarding, personal and other industries (USD 2.24 billion), and power generation companies (USD 1.93 billion). Fourth-quarter 2024 gross disbursements fell to USD 9.81 billion from USD 21.77 billion, primarily reflecting a foreign bank branch’s adjustment in its funding strategy for an affiliate; repayments also dropped to USD 9.70 billion from USD 21.68 billion, resulting in net disbursement. On the liability side, residents held USD 54.14 billion (97.6%) of FCDU deposits, which the central bank noted as an additional buffer to the country’s gross international reserves.
Central Bank of the Philippines 2025-03-31
Central Bank of the Philippines reports end-December 2024 FCDU loans at USD 15.82 billion and deposit liabilities at USD 55.46 billion
The Central Bank of the Philippines reported outstanding Foreign Currency Deposit Unit (FCDU) loans at USD 15.82 billion by end-December 2024, a 0.5% quarterly and 4.3% annual increase. FCDU deposit liabilities were USD 55.46 billion, down 3.5% quarterly but up 1.9% from end-December 2023. The maturity profile was mainly medium- to long-term, with 77.1% of loans payable over one year, and residents held 97.6% of FCDU deposits, serving as a buffer to the country's gross international reserves.