Banks' Residential Property Loans Total P188.3 B - BSP
MANILA, Philippines -- The Bangko Sentral ng Pilipinas (BSP) said the big banks and the medium-sized thrift banks recorded a larger exposure to the residential real estate sector last year, fueled by the industry's aggressive marketing to promote property loans.
Banks' residential real estate loans totaled P188.3 billion at the end of 2010, up 15.8 percent year-on-year and 5.3 percent from the previous quarter ending in September, said the BSP.
Based on the BSP press statement, real estate loans as a percentage to the total consumer loan portfolio last year of P472.6 billion had the biggest share with 39.9 percent.
The total consumer loans for all banks last year was higher by 14.4 percent compared to end-2009. The consumer loans of universal and commercial banks accounted for 67.7 percent and the BSP said the year-on-year growth was boosted by the P35.3 billion or 14.2 percent increase in the big banks' consumer loan activities. In the meantime, the consumer loans of thrift banks grew year-on-year at 14.8 percent compared, …
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Publication information: Article title: Banks' Residential Property Loans Total P188.3 B - BSP. Contributors: Not available. Newspaper title: Manila Bulletin. Publication date: April 10, 2011. Page number: Not available. © 2009 Manila Bulletin Publishing Corp. COPYRIGHT 2011 Gale Group.