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Wednesday, December 10, 2003
Manufacturing sector gets biggest bulk of SBC loans
NEARLY half of Security Bank's total loan portfolio for the first half of the year was released to the manufacturing sector, first Vice President for Treasury Carlos Borromeo of Security Bank Corporation (SBC) reported Monday evening.
"The manufacturing sector accounts for the highest loan exposure based on economic activities as of June 2003," he said.
Of the P37.5 billion total loan portfolio, P16.5 billion went to the sector, representing 44 percent of the total window.
Financing, insurance, and other business services, with borrowings totaling P6 billion for the first half, got the second highest allotment, accounting for 16.1 percent.
Getting a total of P3.5 billion in loans from SBC, the wholesale and retail sector placed third among the sectors, snagging 9.4 percent exposure.
A total of P3 billion has been released to other community, social, and personal activities, accounting for 8.1 percent of the total portfolio, Borromeo likewise reported.
Activities under the real estate sector, meanwhile, got a 6.8 percent exposure, accounting for P2.54 billion.
Loans extended to mining and quarrying, and agriculture activities amounted P359 million and P327 million, comprising 1 percent to .9 percent of the total amount, respectively. CEU
(December 10, 2003 issue)
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