BANK lending in grew 8.6 percent in February driven by the robust lending in real estate activities, according to the Bangko Sentral ng Pilipinas.
In January bank lending stood at 7.8 percent.
Outstanding loans for production activities went up by 6.8 percent in February from 5.9 percent in the previous month, largely driven by the increase in lending to key sectors such as real estate activities (11.6 percent); electricity, gas, steam and air-conditioning supply (11.2 percent); wholesale and retail trade, and repair of motor vehicles and motorcycles (7.1 percent); transportation and storage (21.1 percent); and manufacturing (5.9 percent).
Likewise, consumer loans to residents grew by 25.2 percent in February, the same rate as in January, on the sustained increase in credit card and motor vehicle loans. / KOC