LOANS intended for real estate grew 6.8 percent quarter-on-quarter to P1.4 trillion in the second quarter of last year, latest Bangko Sentral ng Pilipinas (BSP) data showed.
In a separate bulletin, the Department of Finance’s chief economist noted the banking sector remained in tip-top shape to withstand external shocks.
In a statement Saturday, the BSP said the end-June 2015 combined real estate exposures (REEs) of universal, commercial and thrift banks as well as trust departments rose on the back of a 7.6-percent quarter-on-quarter increase in real estate loans (RELs) to P1.2 trillion.
The bulk, or 86.6 percent, of REEs as of June were RELs, the BSP said.
Investments in real estate securities (REIs), meanwhile, increased to P182.6 billion as of end-June from P180.1 billion at end-March.
The BSP said the non-performing REL ratio of universal, commercial and thrift banks slid to 2.3 percent at end-June from 2.6 percent a quarter ago. This has been on a downward trend since December 2013.
Finance Undersecretary Gil S. Beltran said “the increase in deposits, total assets, and interest income reflect that the country’s banking sector was in good shape.”