BANK lending picked up in April but money supply growth eased, the Bangko Sentral ng Pilipinas reported on Friday.Preliminary data showed that the outstanding loans of universal and commercial banks, net of reverse repurchase placements with the BSP, grew by 9.6 percent from 9.4 percent in March.Month on month and seasonally adjusted, the expansion was 0.9 percent.Domestic liquidity or M3, meanwhile, expanded by 5.6 percent, slightly down from March's 5.7 percent to about P17.2 trillion.
4 percent in March, due largely to the continued increase in credit card, motor vehicle and salary-based general purpose consumption loans.As for money supply, domestic claims saw growth expand to 10.6 percent, down from March's revised 10.9 percent.Claims on the private sector, in particular, grew by 10.8 percent from a revised 11.0 percent amid a 'sustained expansion in bank lending to nonfinancial private corporations and households,' the BSP said.
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