Preliminary data indicated that outstanding loans of universal and commercial banks expanded by 9.6 percent year-on-year in April from 9.4 percent in March. On a month-on-month seasonally-adjusted basis, outstanding universal and commercial bank loans, net of RRPs, increased by 0.9 percent.
Meanwhile, outstanding loans to residents, net of RRPs, rose by 9.6 percent in April from 9.5 percent in March, while outstanding loans to non-residents went up by 10.8 percent in April from 9.1 percent in the previous month.
Outstanding loans for production activities expanded by 7.8 percent in April from 7.7 percent in March, driven by the rise in lending to key industries including real estate activities; electricity, gas, steam, and airconditioning supply; wholesale and retail trade, and repair of motor vehicles and motorcycles; transportation and storage; and construction.
Likewise, consumer loans to residents grew by 25.3 percent in April from 25.4 percent in March, due largely to the continued increase in credit card, motor vehicle, and salary-based general purpose consumption loans.
Meanwhile, preliminary data showed that domestic liquidity (M3) grew by 5.6 percent year-on-year to about P17.2 trillion in April from 5.7 percent in March. On a month-on-month seasonally-adjusted basis, M3 increased by about 0.5 percent.
