Preliminary data show that loans from universal and commercial banks (U/KBs)[1] increased at a slower rate of 9.3 percent year-on-year in January 2026 from 9.6 percent (revised) in December 2025.
After adjusting for seasonal fluctuations, outstanding U/KB loans were higher by 1.0 percent month-on-month in January.
Outstanding loans to residents[2] grew by 9.9 percent in January from a revised 10.1-percent expansion in December, while outstanding loans to non-residents[3] fell by 10.4 percent from an 8.0-percent (revised) decline in the same period.
Loans meant to fund business activities expanded by 8.2 percent in January. Lending rose for the following key industries: real estate activities (9.1 percent); electricity, gas, steam and air-conditioning supply (20.3 percent); wholesale and retail trade, repair of motor vehicles and motorcycles (8.3 percent); financial and insurance activities (5.5 percent); information and communication (4.9 percent); and transportation and storage (19.1 percent).
Consumer loans to residents—which include credit card, motor vehicle, and general-purpose salary loans—grew by 21.3 percent from 21.5 percent (revised).
The BSP monitors bank loans because they are a key transmission channel of monetary policy.
Looking ahead, the BSP will ensure that domestic liquidity and bank lending conditions remain consistent with its price and financial stability mandates. PR