PHILIPPINE banks' nonperforming loan ratio declined to 3.39 percent in March, data from the Bangko Sentral ng Pilipinas showed.The figure was down from February's 3.44 percent but higher from the year-earlier 3.33 percent.Bad loans plunged to P464.67 billion in March compared to P466.11 billion in the previous month. Year on year, it rose from P414.98 billion.
08 percent of the total at P508.46 billion.Restructured loans, meanwhile, rose to P294.53 billion from P292.08 billion. This brought it to 2.15 percent of banks' gross loan portfolio.In March last year, restructured loans were higher at P322.87 billion or 2.59 percent.Lenders' loan loss reserves edged down to P467.76 billion, equivalent to 3.42 percent of total loans. This was lower than 3.50 percent seen in the same month last year.