Bank lending growth moderate in December

PRELIMINARY data indicate that outstanding loans of commercial banks, net of reverse repurchase (RRP) placements with the BSP, expanded at a slower rate of 19.0 percent in December from 19.3 percent (revised) in November.

Similarly, the growth of bank lending inclusive of RRPs decelerated to 18.1 percent in December from 18.4 percent (revised) in the previous month.

On a month-on-month seasonally-adjusted basis, commercial bank lending for loans net of RRPs and loans inclusive of RRPs both increased by 0.7 percent.

Loans for production activities—which comprised 88.9 percent of banks’ aggregate loan portfolio, net of RRP — grew by 18.5 percent in December as in the previous month. (PR)
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