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Credit growth slows to 10.6% in October
The Philippine Star
|November 30, 2024
After accelerating for three straight months, credit growth slowed to 10.6 percent in October from 11 percent in September, according to the Bangko Sentral ng Pilipinas (BSP).
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Preliminary data from the central bank showed that loans disbursed by universal and commercial banks amounted to P12.5 trillion in end-October, up by P1.19 trillion from the P11.31 trillion recorded in the same period last year.
The October credit growth marked the slowest in three months or since the 10.4 percent expansion in July.
"Looking ahead, the BSP will continue to ensure that domestic liquidity and lending conditions are aligned with its primary mandate of ensuring price and financial stability," the central bank said.
For October, loan releases to production activities grew by 9.1 percent to P10.66 trillion, slower than the 9.8 percent rise in September.
Denne historien er fra November 30, 2024-utgaven av The Philippine Star.
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