Banks started the year on a high note as the loans they extended continued to rise by a double-digit pace in January. The Bangko Sentral ng Pilipinas on Friday reported that outstanding loans from universal and commercial banks in the country reached P3.18 trillion as of the end of January—up by 15.4 percent from the P2.76 trillion posted in the same period last year.
Bank lending in the country remained robust in 2012, as the combined loan portfolios of universal and commercial banks registered another double-digit expansion.
Bank lending in the country is expected to expand at another double-digit pace in 2013 as industry players have sufficient appetite to extend credit to individuals and enterprises.
The Bangko Sentral ng Pilipinas has extended the effectivity of a temporary regulation that allows banks to lend more to firms investing in priority infrastructure projects of the government.
The total outstanding loans extended by universal and commercial banks grew at a faster pace in October which, according to monetary officials, indicated that the banking sector remained strong enough to fund the requirements of the economy.
The Bangko Sentral ng Pilipinas said it did not see signs of a looming asset price bubble in the real estate sector that could destabilize the banking system, citing latest estimates showing that the exposure of banks in the property market remained within comfortable levels.
The Bangko Sentral ng Pilipinas said credit from banks that could spur increased consumption and investments will remain generally accessible.
Bank lending continued to grow, albeit at a slower pace, in September as the increase in resources allowed banks to extend more loans to consumers and businesses. The Bangko Sentral ng Pilipinas on Friday reported that outstanding loans from universal and commercial banks in the country hit P3.003 trillion by the end of September. [...]
Loans extended by universal and commercial banks in the country rose by 14 percent to P2.98 trillion as of the end of August from P2.62 trillion a year ago, according to the Bangko Sentral ng Pilipinas.
Bank lending in the country is not growing as fast as it should be because of the slow rate of rise in investments made by firms in the country, the Bangko Sentral ng Pilipinas said.
Bank lending continued to post a double-digit pace of growth in May as rising consumption and investment activities boosted demand for credit, the Bangko Sentral ng Pilipinas reported on Wednesday.
Bank lending continued to rise in March, posting an 18.7-percent growth to P2.82 trillion from P2.37 trillion a year ago.
