Philippine bank loans rose 11% in September, driven by lower interest rates and economic optimism.

Philippine bank lending surged 11% in September, reaching P12.4 trillion, fueled by lower borrowing costs and optimism for economic growth. Loans to sectors like real estate, manufacturing, and retail trade increased, with credit card and motor vehicle loans seeing significant jumps. The Bangko Sentral ng Pilipinas may cut interest rates further in December, but could manage liquidity through term deposits and securities auctions.

November 10, 2024
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