Philippine bank lending increases 14.9% in 1H

Total outstanding loans among Philippine banks grew 14.9 percent to P2.95 trillion at the end of the first semester.

 


At the of June, BSP reported that loans for production activities comprising bulk of total outstanding loans, expanded 15.1 percent to P2.714 trillion compared to the 14.7 percent growth in May.

Consumer loans, in the meantime, recorded a growth of 15.8 percent in June, slower compared to what was reported the previous month of 16.8 percent. In total value, consumer loans under household consumption

category amounted to P238.48 billion. These are credit card, automotive loans and "other" loans, totaling P136 billion, P76.66 billion and P25.76 billion, respectively.

In the statement, the central bank said the growth in production loans was pushed by increased lending in the wholesale and retail trade which grew by 42.4 percent to P413.97 billion, real estate, renting, and business services that rose 27.1 percent to P508.2 billion and manufacturing which went up by 25.1 percent to P524.37 billion.

Loans for financial intermediation, on the other hand, increased 24.4 percent to P282.5 billion while transportation, storage, and communication loans grew 31.2 percent to P226.18 billion.

Bangko Sentral ng Pilipinas Deputy Governor Nestor A. Espenilla Jr. said that while he does not expect bank lending to grow as robust as the past two years, he thinks the industry’s 10 percent to 15 percent average growth for bank loans this year is "reasonable."

The low interest rate environment is one of the concerns for the banking community and its impact on lending rate. The BSP overnight borrowing rate is now below four percent at 3.75 percent and 5.75 percent for overnight lending. Rates on term deposits and placements were also reduced.

According to the BSP, "the continued growth in bank lending underpins the (central bank’s) view that domestic demand remains firm and would lend support to the economy amid weakening global economic conditions."

"The BSP will continue to monitor liquidity conditions to ensure that credit activity remains supportive of overall economic growth while remaining consistent with the BSP’s price stability objective," it added.

For more.

Bagaimana perkembangan perubahan fokus manajemen kekayaan bank?

Seorang analis mengatakan, "Ada hingga $25 miliar dalam biaya yang bisa didapat di Asia, tetapi ini pasar yang sulit.

Aplikasi blu oleh Group BCA memperluas ekosistem digital melalui BaaS

Strategi tersebut telah berhasil meningkatkan transaksi dan membangun kepercayaan nasabah sebesar 53,4% sepanjang 2023.

Christine Ip dari UOB merenungkan karir perbankan tiga dekadenya dan kembali ke dunia seni

Dia percaya bahwa keuangan dan kreativitas saling berkaitan dalam membangun kolaborasi talenta yang holistik di UOB.

Shally Koh dari Citi berbicara tentang bagaimana mendorong perbankan yang lebih beragam

Bank tersebut memperkenalkan program keterlibatan pria dan dukungan ibu sebagai bagian dari upayanya untuk kesetaraan gender.

Maisie Chong dari StanChart berbicara tentang tidak pernah menolak peluang dan melangkah maju

Chong berbagi tentang menemukan kepuasan dan pemenuhan diri melalui perjalanan kerja.

Mayda Lim dari OCBC dalam membangun pipeline talenta di bidang teknologi dan perbankan

Lim menggabungkan kebutuhan untuk mendukung bankir perempuan dengan kekurangan talenta dalam industri tersebut.

Aturan baru batasan harga mendorong lebih banyak penggabungan P2P di Indonesia

Regulasi ini akan meningkatkan biaya kepatuhan, namun batasan harga akan membuat sulit untuk mengimbanginya.

Deputi Gubernur: Pembiayaan Islam di Indonesia akan berkembang sebesar 10% -12% pada 2024

Ekonomi dan keuangan syariah Indonesia mempertahankan pertumbuhan positif pada 2023.

Bagaimana HomePay memerangi penipuan renovasi di Singapura

Uang ditempatkan dalam rekening escrow dan disalurkan saat pencapaian tahap-tahap tertentu.