LOANS from big banks continued to increase in February 2026, mainly driven by higher borrowing from businesses, according to the initial data of the Bangko Sentral ng Pilipinas (BSP).
In a statement, total loans issued by universal and commercial banks rose by 9.5 percent compared to the same period last year, slightly higher than the 9.3 percent growth recorded in January. On a monthly basis, lending also grew by 0.8 percent.
A big part of this growth came from loans used for business activities, which expanded by 8.6 percent in February, faster than 8.2 percent in January. This shows that more companies are borrowing money to run or expand their operations.
Several key industries borrowed more during the month. These include power and energy, transportation and storage, water and waste services, real estate and wholesale and retail trade. This suggests that many sectors of the economy are still active and investing.
Loans to people and businesses within the country grew by 10.1 percent. Meanwhile, loans to borrowers outside the Philippines continued to decline.
On the other hand, loans taken by consumers — such as credit card and car loans — still grew but at a slower pace of 20.8 percent, compared to 21.3 percent in January.
The BSP said it continues to monitor bank lending as a key channel for monetary policy transmission.
Moving forward, the central bank said it will ensure that domestic liquidity and lending conditions remain aligned with its mandates of price and financial stability. / KOC