Try GOLD - Free
Banks' bad loans rise in Feb
The Philippine Star
|April 05, 2024
The soured loans of Philippine banks picked up for the 14th straight month in February, bringing the gross non-performing loan (NPL) ratio to a steady 3.44 percent, amid high interest rates.
Latest data from the Bangko Sentral ng Pilipinas (BSP) showed bad loans rose by 13.4 percent to P466.1 billion in February from P411.2 billion in the same month last year. This is also 1.2 percent higher than the P460.8 billion logged in January.
Despite the rise in bad debts, the banking sector's NPL ratio was unchanged from 3.44 percent in January.
This developed as banks' total loan portfolio stood at P13.54 trillion in February, rising by 1.2 percent from a month ago and 9.1 percent from the previous year.
The NPL ratio matched the 3.44 percent in October last year and was the highest since the 3.46 percent seen in May 2023.
This story is from the April 05, 2024 edition of The Philippine Star.
Subscribe to Magzter GOLD to access thousands of curated premium stories, and 10,000+ magazines and newspapers.
Already a subscriber? Sign In
MORE STORIES FROM The Philippine Star
The Philippine Star
LOVE IT OR HATE IT, 'QUEZON' ISN'T A FILM YOU CAN EASILY IGNORE
Jericho Rosales' portrayal of Manuel L. Quezon, the first president of the Philippine Commonwealth, is powerful, nuanced and brimming with conviction. He inhabits the role with intelligence and emotional honesty, showcasing his depth and maturity as an actor. No surprise if he takes home multiple Best Actor awards next year.
4 mins
November 03, 2025
The Philippine Star
Gibo to Asean: Condemn nature reserve declaration
Defense Secretary Gilbert Teodoro has called on his counterparts in Southeast Asia to condemn the harassment being perpetrated against Filipino fisherfolk in the West Philippine Sea (WPS), who are denied the right to fish in sovereign waters.
1 mins
November 03, 2025
The Philippine Star
Gatchalian wants P49-B medical aid realigned
The government's P49-billion medical assistance fund for indigent patients may be realigned to strengthen the zero-balance billing program, under a proposal by Sen. Sherwin Gatchalian, who said health care access should not depend on politicians’ discretion.
1 min
November 03, 2025
The Philippine Star
'BEAUTY AND THE BEAST' IS SET TO ENCHANT YOU IN SINGAPORE IN DECEMBER
The world has been enchanted by Disney's Beauty and the Beast for over 30 years now, starting with the original animated film that hit theaters in 1991 and became the first animated movie to receive a Best Picture nomination at the Oscars.
6 mins
November 03, 2025
The Philippine Star
BBM meets with Chile, South Korea leaders
President Marcos arrived in Manila yesterday following his participation in the Asia-Pacific Economic Cooperation (APEC) Summit in South Korea.
3 mins
November 03, 2025
The Philippine Star
CHAD BORJA MAKES MEDELLIN IN CEBU BENEFICIARY OF COMEBACK SHOW
The September 30 earthquake, which had Bogo, Cebu as the epicenter, killed a number of people, destroyed hundreds of houses and devastated thousands of individuals.
5 mins
November 03, 2025
The Philippine Star
Xi delivers veiled warning to nations not to take the US' side
Chinese leader Xi Jinping, the de facto geopolitical heavyweight at an Asia-Pacific economic summit, on Friday courted countries for trade and investment, but also implicitly warned them not to join the United States in reducing the world's reliance on Chinese supply chains.
1 mins
November 03, 2025
The Philippine Star
'Inflation stays below 2% in Oct'
Price growth seen below target for 8th straight month
2 mins
November 03, 2025
The Philippine Star
Raps vs anti-Discaya protester junked
Environmental activist Jonila Castro did not lead or organize the Sept. 4 protest at the Discaya-owned St. Gerrard Construction office in Pasig, according to the city prosecutor's office.
1 min
November 03, 2025
The Philippine Star
Left behind, again!
According to reports from Kuala Lumpur where the ASEAN Summit conference was held last week, the US granted a zero percent import tariff exemption to three outheast Asian countries — Thailand, Malaysia and Cambodia — under new trade agreements approved directly by US President Donald Trump.
4 mins
November 03, 2025
Listen
Translate
Change font size