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Wednesday, January 19, 2005
RP thrift banks increase exposure to real estate
THRIFT banks in the country raised their loan exposure to the real estate sector by 1.8 percent to P48 billion at the end of June 2004 from the end of March 2004. This level was also 9.7 percent higher than a year ago.
The exposure consisted of P47.9 billion in real estate loans and P105 million in debt and equity investments, said the Bangko Sentral ng Pilipinas (BSP).
The real estate exposure represented 21.1 percent of the industry’s total loan and investment portfolio, down from 24.1 percent a year ago.
In 2002, the BSP allowed banks to invest more in the property sector than the previously permitted 20 percent of their loan portfolio.
The ratio of past due real estate loans to total real estate loans improved to 14.9 percent from 16.2 percent in March, and from 16.3 percent a year ago, the BSP said. (CTL)
(January 19, 2005 issue)
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