MANILA -Lending activities among large banks in the Philippines grew slower at 9.7 percent year-on-year in April from 10.2 percent in March, according to preliminary data at the Bangko Sentral ng Pilipinas.
The BSP said that compared to March, bank lending “went up marginally” by 0.6 percent in April.
Growth seen in April was mainly due to expansion in lending to major industries like electricity, gas, steam, and air-conditioning supply; wholesale and retail trade, and manufacturing.
“The sustained expansion in bank lending activity suggests that domestic liquidity remains sufficient to support economic activity,” the BSP said in a statement.
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Philippine banks sustain 10% loan growth
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