Quantcast
Latest Stories

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

By

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.

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.


Follow Us


Follow us on Facebook Follow on Twitter Follow on Twitter


Recent Stories:

Complete stories on our Digital Edition newsstand for tablets, netbooks and mobile phones; 14-issue free trial. About to step out? Get breaking alerts on your mobile.phone. Text ON INQ BREAKING to 4467, for Globe, Smart and Sun subscribers in the Philippines.

Tags: bank lending , Banking , Loans , Philippines



Copyright © 2014, .
To subscribe to the Philippine Daily Inquirer newspaper in the Philippines, call +63 2 896-6000 for Metro Manila and Metro Cebu or email your subscription request here.
Factual errors? Contact the Philippine Daily Inquirer's day desk. Believe this article violates journalistic ethics? Contact the Inquirer's Reader's Advocate. Or write The Readers' Advocate:
c/o Philippine Daily Inquirer Chino Roces Avenue corner Yague and Mascardo Streets, Makati City, Metro Manila, Philippines Or fax nos. +63 2 8974793 to 94
Advertisement
Advertisement

News

  • Seabed search for missing Malaysian jet to widen
  • Lacson rejects calls to name ‘pork’ execs
  • Obama due in Seoul as North Korea nuclear test fears grow
  • Hold departure order out vs Corona, Singson
  • Malaysia to release MH370 report–PM
  • Sports

  • Michael Phelps loses to Lochte in comeback meet
  • Sharapova advances to Stuttgart quarterfinals
  • Galedo caps ride of redemption
  • Beermen, Express dispute second semis slot today
  • Lady Agilas upset Lady Bulldogs in four sets
  • Lifestyle

  • ‘Recovered’ Banksy works on display ahead of sale
  • Marinduque: Visiting the ‘palm of the ocean’
  • First at Vatican in 60 years
  • How Jing Monis Salon gave Krissy the pixie
  • Want to be a supermodel? Work on your inner beauty, says Joey Espino
  • Entertainment

  • Paul McCartney to play at Candlestick concert
  • Kristoffer Martin: from thug to gay teen
  • Has Ai Ai fallen deeply with ‘sireno?’
  • California court won’t review Jackson doctor case
  • Cris Villonco on play adapted from different medium
  • Business

  • PAL hailed for ban on shark fin cargo
  • BSP to change tint of P100 bill
  • Nielsen sees car buying boom in the Philippines
  • How author of best-seller exposed ‘one percent’ economic elite
  • Bangko Sentral readies new bank lending rules
  • Technology

  • Cloud strength helps Microsoft earnings top Street
  • Vatican announces hashtag for April 27 canonizations
  • Enrile in Masters of the Universe, Lord of the Rings?
  • Top Traits of Digital Marketers
  • No truth to viral no-visa ‘chronicles’
  • Opinion

  • Corruption not invincible after all
  • Editorial Cartoon, April 25, 2014
  • No deal, Janet
  • Like making Al Capone a witness vs his gang
  • MERS-CoV and mothers
  • Global Nation

  • Filipinos second-shortest in Southeast Asia
  • China welcomes PH apology
  • Only 4 Etihad passengers not accounted for
  • Abandoned in Malta,15 PH seamen return
  • Senator hopes PH will also get same vow
  • Marketplace