Philippine banks' lending slowed to 14% in November

Slowdown was most evident in trade and construction.

According to Maybank Kim Eng, lending of universal and commercial banks net of reverse repurchase placements grew 14% YoY in November, slower than the 15.8% pace registered in October.

Here's more from Kim Eng:

Lending to the production sector decelerated to 14.6% from 16.4% last month. The slowdown was most evident in the trade sector and construction. Manufacturing, transport, and the real estate and business services sector posted martginal MoM slowdown of at least 1 ppt each.

Loans to the financial intermediation sector bucked the trend as it grew faster than the previous month. On the consumer side, lending continued to slide to 12.1% in November from 13.9% last month.

Credit card receivables and auto loans each eased 1.7ppts MoM to 10.1% and 13.7%, respectively. Overall lending growth is in line with our FY2012 forecast of 14%. The central bank expects lending to continue its expansion, given strong demand and ample liquidity in the economy.

Also Read

Malaysia's private sector credit grows 5.4% in April

Hong Kong mortgage loans drawdown rises by 9.9%

Since you're here...

...there are many ways you can work with us to advertise your company and connect to your customers. Our team can help you dight and create an advertising campaign, in print and digital, on this website and in print magazine.

We can also organize a real life or digital event for you and find thought leader speakers as well as industry leaders, who could be your potential partners, to join the event. We also run some awards programmes which give you an opportunity to be recognized for your achievements during the year and you can join this as a participant or a sponsor.

Let us help you drive your business forward with a good partnership!

I want to download the media kit

Top News

What is Lorem Ipsum?

What is Lorem Ipsum? Lorem Ipsum is simply dummy text of the printing and typesetting industry. Lorem Ipsum has been the industry's standard dummy text ever since the 1500s, when an unknown printer took a galley of type and scrambled it to make a type specimen book. It has survived not only five centuries, but also the leap into electronic typesetting, remaining essentially unchanged. It was popularised in the 1960s with the release of Letraset sheets containing Lorem Ipsum passages, and more recently with desktop publishing software like Aldus PageMaker including versions of Lorem Ipsum.

Evergreen Group obtains financing license to expand in Malaysia