Preliminary data indicated that outstanding loans of universal and commercial banks, net of reverse repurchase (RRP) placements with the Bangko Sentral ng Pilipinas, grew by 10.1 percent year-on-year in June, the same rate of increase as in May.
On a month-on-month seasonally-adjusted basis, outstanding universal and commercial bank loans, net of RRPs, slightly expanded by 0.4 percent.
Meanwhile, outstanding loans to residents, net of RRPs, grew at a slightly slower rate of 10.1 percent in June from 10.2 percent in May, while outstanding loans to non-residents expanded by 9.8 percent in June from 8.1 percent in the previous month.
Outstanding loans for production activities went up by 8.3 percent in June from 8.4 percent in the previous month, mainly composed of loans to key industries such as real estate activities; wholesale and retail trade, and repair of motor vehicles and motorcycles; manufacturing; transportation and storage; and electricity, gas, steam, and airconditioning supply.
At the same time, consumer loans to residents expanded by 25.0 percent in June from 25.6 percent in May amid the rise in credit card loans.
Domestic liquidity (M3), meanwhile, grew by 6.6 percent year-on-year to about P17.5 trillion in June from 6.5 percent in May. On a month-on-month seasonally-adjusted basis, M3 increased by about 0.5 percent.
Domestic claims expanded by 10.5 percent year-on-year in June from 10.7 percent in the previous month. Claims on the private sector grew by 11.7 percent in June from 11.6 percent in May with the continued expansion in bank lending to non-financial private corporations and households.
Net claims on the central government expanded by 12.1 percent from 12.2 percent due to the sustained borrowings of the National Government and the decline in its deposits with the BSP.
