MANILA -Lending activities among large banks in the Philippines grew slower for the second month in a row at 9.4 percent in May when total outstanding loans reached P10.91 trillion, according to the Bangko Sentral ng Pilipinas. In April, loans extended by big banks rose by 9.7 percent to P10.86 trillion, slower than the 10.2 percent in March. "The moderation in bank lending activity reflects the impact of the BSP's cumulative policy rate adjustments," the BSP said in a statement. Preliminary data at the BSP show that compared to April, loans extended by banks in May went up marginally by 0.7 percent. Lending to Philippine residents in May increased by 8.9 percent to P10.86 tr...
Keep on reading: Bank lending growth slowed further in May
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Keep on reading: Bank lending growth slowed further in May
from INQUIRER.net https://ift.tt/6BQ2H4n
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