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"Phl leads Asean in credit growth trend"
The Philippine Star
|November 13, 2024
The Philippines is expected to post the most optimistic credit growth trend across the Association of Southeast Asian Nations (ASEAN), according to Bank of America Global Research.
BofA's latest analysis showed that the Philippines is the only country within ASEAN showing an "improving" trend, while other economies showed a flat or declining credit growth.
"The BofA ASEAN Credit Growth Indicators are trending flat in Singapore and Thailand, declining in Malaysia and Indonesia, and improving in Philippines," the bank said.
"The Philippines is the only country within ASEAN showing an 'improving' trend. It has seen a faster recovery in credit growth to nine to 10 percent and the latest reading of the indicator implies slight improvement from current levels," it said.
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