Based on BSP data, the rise in loan releases to production activities expanded up to 7.8 percent in April from 7.7 percent in March. It accounted for 85.7 percent of the total disbursements or P10.21 trillion.MANILA, Philippines — Credit growth accelerated further to 9.6 percent in April from 9.4 percent in March as Philippine banks disbursed more production and consumer loans, according to the Bangko Sentral ng Pilipinas .
The rise in funding to the transportation and storage sector also climbed to 21.8 percent with P437 billion or 3.7 percent of the total. Credit card receivables surged by 29.3 percent to P762.19 billion in April from P589.52 billion in the same month in 2023. However, the pace was a bit slower than the 30 percent growth in March.
Ford Philippines last week unveiled two of its most iconic brands for car enthusiasts at the grand ballroom of Okada Manila – the all-new Ford Mustang and the off-road sports utility vehicle Ford Bronco.
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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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