The total outstanding loans, net of net of reverse repurchase placements with the central bank, is lower compared to March’s 10.2 percent growth.
The BSP also released the latest domestic liquidity or M3 data which grew by 6.6 percent year-on-year to P16.25 trillion in April. This was higher compared to 6.2 percent M3 growth in March. Productivity loans went up by 8.3 percent, lower from nine percent in March. These loans, which are for economic activity, amounted to P9.47 trillion during the period.
Claims on the private sector grew by 9.7 percent with the sustained expansion in bank lending to non-financial private corporations and households, noted the BSP. The BSP also said that it will make sure money supply will remain consistent with the prevailing stance of monetary policy.
Source: Loan Digest (loandigest.net)
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