OUTSTANDING loans from universal and commercial banks rose by 9.6 percent in April 2024 compared to the same period last year, according to preliminary data released by the Bangko Sentral ng Pilipinas .This is a slight increase from the 9.4 percent growth seen in March.In a statement on Friday, May 31, 2024, the BSP said outstanding loans to residents rose by 9.6 percent in April from 9.5 percent in March, while outstanding loans to non-residents went up by 10.8 percent in April from 9.
Increased lending to key industries such as real estate, electricity, and transportation fueled the expansion in production activity loans.“Outstanding loans for production activities expanded by 7.8 percent in April from 7.
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Bank lending grew by 9.6% in April 2024 — BSPPreliminary data released by the central bank on Friday showed that outstanding loans of universal and commercial banks, net of reverse repurchase placements with the BSP, expanded by 9.6% year-on-year in April, up from 9.4% in March.
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