Bank loans grew faster in April on improving demand from companies, the Bangko Sentral ng Pilipinas said Friday.
Data show that outstanding loans to residents, net of RRPs, rose 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, also faster than 9.1 percent in the previous month. Consumer loans to residents grew 25.3 percent in April, slightly slower than the 25.4-percent growth in March. The BSP noted the sustained increase in credit card, motor vehicle and salary-based general purpose consumption loans.
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