The Bangko Sentral ng Pilipinas reported a 12 percent increase in bank lending in June this year, as the sector continues to recover from the ill-effects of the pandemic.
In comparison, bank lending grew 13.6 percent before the onslaught of the global health crisis in March 2020. Broken down, outstanding loans to residents increased by 11.9 percent in June from 10.6 percent in the previous month.
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June bank lending grew fastest in over two yearsThe country’s large banks saw their lending activities pick up pace for the 10th straight month, bolstering prospects for faster growth of the PH's gross domestic product but also firming up grounds for further policy rate hikes in the coming months.
Source: inquirerdotnet - 🏆 3. / 86 Read more »
June bank lending grew fastest in over two yearsThe country’s large banks saw their lending activities pick up pace for the 10th straight month, bolstering prospects for faster growth of the PH's gross domestic product but also firming up grounds for further policy rate hikes in the coming months.
Source: inquirerdotnet - 🏆 3. / 86 Read more »