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Nov 1, 2017 @ 16:03

Bank loans jump 21% in September – BSP


Banks have been fairly generous in approving new loans.

Credit approved by Philippine banks jumped by 21.1% in September from a year ago, faster than a 20.4% increase in August, the Bangko Sentral ng Pilipinas said in a statement.

The fresh loans went mainly to the productive sector, which rose by 20.7%. Loans for social and personal activities nearly tripled from last year, posting the biggest surge for the month.

Consumer loans also posted a 20% increase, with higher credit card swipes fuelling the growth.

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