FCDU loans rise to $15.9 B in Q2

Foreign currency deposit unit (FCDU) loans expanded slightly in the second quarter of the year, inching up by 0.9 percent to $15.93 billion as of end-June from $15.78 billion in the previous quarter, preliminary Bangko Sentral ng Pilipinas (BSP) data showed.

- By KEISHA TA-ASAN

Of the total, $10.12 billion or 63.5 percent were granted to Philippine residents, while $5.81 billion or 36.5 percent went to nonresidents.

Within local borrowers, the biggest users were merchandise and service exporters with $2.52 billion (24.9 percent of total loans), towing, tanker, trucking, forwarding, personal and other industries at $2.22 billion (22 percent) as well as power generation companies with $1.89 billion (18.7 percent).