Thursday, April 19, 2018
Close  
  • share this

Bank lending up 16.2% to P3.2T in 2012

/ 01:31 AM February 14, 2013

Bank lending in the country remained robust in 2012, as the combined loan portfolios of universal and commercial banks registered another double-digit expansion.

Banks last year continued to enjoy higher profits and deposits from the public, allowing them to lend more throughout 2012. The decline in interest rates to historic lows also served to boost public appetite for bank loans.

The Bangko Sentral ng Pilipinas on Wednesday reported that total outstanding loans from universal and commercial banks reached P3.24 trillion as of the end of 2012, rising by 16.2 percent from the P2.79 trillion registered the previous year.

ADVERTISEMENT

The BSP said the growth in lending last year benefited both individuals and businesses.

Official data showed that private enterprises accounted for P2.96 trillion of the total outstanding loans extended by big banks. This was up by 16.6 percent year on year from P2.54 trillion.

Enterprises that benefited the most from bank lending included those engaged in real estate, financial intermediation, manufacturing, wholesale and retail trade, and transportation and communications.

A total of P257.38 billion worth of loans were extended to individual borrowers. The amount was 14.1 percent higher than the previous year’s P225.57 billion.

The double-digit growth in lending last year contributed much to the growth in the liquidity of the economy.

Also, the BSP on Wednesday reported that domestic liquidity, measured in terms of M3, amounted to P5.17 trillion as of end-2012, up by 10.6 percent from the previous year’s P4.67 trillion.

ADVERTISEMENT
Don't miss out on the latest news and information.
View comments

Subscribe to INQUIRER PLUS to get access to The Philippine Daily Inquirer & other 70+ titles, share up to 5 gadgets, listen to the news, download as early as 4am & share articles on social media. Call 896 6000.

TAGS: bank lending, Banking, Loans, Philippines
For feedback, complaints, or inquiries, contact us.
opinion

Whose foreign secretary?

April 20, 2018 05:36 AM

business

Gov’t to build key bridges worth P270B

April 20, 2018 05:34 AM

opinion

‘Ikaw, madre’

April 20, 2018 05:30 AM

business

BPI pumps up tech brawn via P50-B boost

April 20, 2018 05:30 AM



© Copyright 1997-2018 INQUIRER.net | All Rights Reserved