Bank Lending Posts Fastest Growth in 9 Months in April
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Bank lending surges to 9-month high as business demand rebounds
Bank lending accelerated to its fastest pace in nine months in April, fueled by the sharp rebound in credit demand from corporate borrowers and steady household spending.Preliminary data released by the Bangko Sentral ng Pilipinas (BSP) showed that outstanding loans granted by universal and commercial banks grew 11.4 percent, higher compared to the 10.7% percent expansion in March.The latest was the quickest pace of credit expansion since July 2…
Bank lending posts fastest growth in 9 months in April
MANILA, Philippines – Bank lending expanded at its fastest pace in nine months in April, underscoring the continued flow of credit to the economy despite the shock caused by the Middle East conflict. Outstanding loans issued by large banks rose 11.4 percent from a year earlier to P14.8 trillion, according to data released by the Bangko
The Bangko Sentral ng Pilipinas confirmed an 11.4% increase in loans to universal and commercial banks in April. This was from 10.7% in March, which was recorded as high loan demand from businesses and households. According to the BSP, Outstanding loans to residents increased by 11.8% in April from 11.1% in March. While loans to business activities increased by 10.7% in April, from 9.7% in March. Bank loans in real estate activities (8.1%); elec…
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