Bank Lending increases by 12.1% in June[/font][/size][/font]
[/font][/color]Outstanding loans from universal and commercial banks (U/KBs) to businesses and individual consumers continued to rise in June.[/size][/size][/font]
Preliminary data from the Bangko Sentral ng Pilipinas (BSP) show that loans from U/KBs[1][/font] expanded by 12.1 percent year-on-year in June from 11.3 percent in May.[/font][/font]
After adjusting for seasonal fluctuations, outstanding U/KB loans increased by 1.2 percent in June compared with the previous month.[/font]
Outstanding loans to residents grew by 12.6 percent in June from 11.8 percent in May. Outstanding loans to non-residents[2][/font] [/font]contracted by 6.4 percent in June, following a 6.6-percent decline a month ago.[/font][/font]
Loans meant to fund business activities went up by 11.1 percent in June from a 10.2-percent growth in May. Loan growth expanded faster as lending increased for the following key industries: real estate activities (9.9 percent); electricity, gas, steam and airconditioning supply (29.2 percent); financial and insurance activities (12.0 percent); and transportation and storage (15.9 percent).[/font]
Consumer loans to residents—which include credit card, motor vehicle, and general-purpose salary loans—grew by 24.0 percent in June from 23.7 percent in May.[/font]
The BSP monitors bank loans because they are a key transmission channel of monetary policy. Looking ahead, the BSP will ensure that domestic liquidity and bank lending conditions remain consistent with its price and financial stability mandates.[/font]
Linkback: https://tubagbohol.mikeligalig.com/index.php?topic=126361.0
