The growth in bank lending as well as domestic liquidity both slowed down month-in-month in November, the Bangko Sentral ng Pilipinas said Friday.
Citing preliminary data, the BSP said outstanding loans of commercial banks, net of reverse repurchase (RRP) placements with the central bank, grew by a slower 19.2 percent year-on-year last month from 19.9 percent in October, even as lending inclusive of RRPs expanded by a faster 18.3 percent from 18 percent in the previous month.
“Loans for production activities—which comprised 88.4 percent of banks’ aggregate loan portfolio, net of RRP—grew albeit at a slower rate of 18.5 percent in November from 18.7 percent in October,” the BSP said.
Production loans to the following sectors increased last month: Information and communication (up 31.4 percent year-on-year); electricity, gas, steam and airconditioning supply (up 24.2 percent); financial and insurance (up 23.1 percent); wholesale and retail trade, repair of motor vehicles and motorcycles (up 18.5 percent); real estate (up 18.3 percent), and manufacturing (up 11.5 percent).
BUSINESS
BUSINESS
BUSINESS
However, bank lending to administrative and support services as well as public administration, defense and compulsory social security activities declined by 31.5 percent and 2.1 percent, respectively.
As for household consumption, loan growth also slowed to 20.6 percent in November from October’s 23.4-percent expansion.
