The total is also faster compared to the 1.3-percent expansion in August, the Bangko Sentral ng Pilipinas said in a statement.
Outstanding loans for production activities grew 4.4 percent in September from 3.1 percent the previous month, it said. Consumer loans to residents or for household consumptions fell at a slower rate of 7.8 percent compared to the 8.4 percent decline in August due to lesser contraction in credit card, motor vehicle and salary-based general purpose loans, the BSP said.
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