Bank lending grows 7.8 pct in June, slower than May

ABS-CBN News

MANILA -- Bank lending continued to grow in June, the Bangko Sentral ng Pilipinas (BSP) said Thursday.Outstanding loans of universal and commercial banks, net of reverse repurchase placements with the BSP, grew 7.8 percent in June, This slower than the 9.4 percent growth recorded in May, according to the BSP.The BSP said outstanding loans to residents, net of RRPs, also increased at a softer pace of 7.9 percent from 9.3 percent in May. Outstanding loans for production activities, meanwhile, went up by 6.3 in June, against May's 7.9 percent.<ul class='op-related-articles'>	<li><a href='https://news.abs-cbn.com/business/03/01/23/bank-lending-expands-at-slower-pace-at-104-percent-in-january-bsp'>Bank lending expands at slower pace at 10.4 percent in January: BSP</a></li>	<li><a href='https://news.abs-cbn.com/business/04/03/23/bank-lending-expands-at-slower-pace-at-10-percent-in-february-bsp'>Bank lending expands at slower pace at 10 percent in February: BSP</a></li>	<li><a href='https://news.abs-cbn.com/business/05/31/23/bank-lending-expands-97-percent-in-april-bsp'>Bank lending expands 9.7 percent in April: BSP</a></li></ul>Consumer loans to residents, however, rose at a slightly faster rate of 23.7 percent in June from 22.7 percent in May given the increase in credit card and motor vehicle loans.<ul class='op-related-articles'>	<li><a href='https://news.abs-cbn.com/business/08/22/23/no-hikes-credit-card-fees-kept-steady-by-bsp'>No hikes, credit card fees kept steady by BSP</a></li></ul>BSP said the slowdown in credit activity reflects the impact of monetary policy tightening. Earlier in August, the BSP kept its policy rate at 6.25 percent after inflation slowed down for a sixth straight month in July.<ul class='op-related-articles'>	<li><a href='https://news.abs-cbn.com/business/08/17/23/bsp-keeps-interest-rates-steady'>BSP keeps interest rates steady at 6.25 percent</a></li></ul>"Looking ahead, the BSP remains prepared to ensure that domestic liquidity and lending dynamics are in line with its price and financial stability objectives," the Central Bank said. RELATED STORY:<figure class='op-interactive'><iframe allow='autoplay; fullscreen' frameborder='0' height='100%' id='ivsplayer01' scrolling='no' src='https://player.ivideosmart.com/ivsplayer/v4/dist/html/iframe-src.html?iframeid=ivsplayer01&key=e8c22c015ca9eafa76f1e3edfa03c603&spid=3001339&vid=2784567' width='100%'></iframe></figure><div class='iwantbar'>Watch more News on <a href='https://www.iwanttfc.com/#!/browse/Genres/News/tag_id_genres/id_news' target='_blank'>iWantTFC</a></div>

<ul class='op-related-articles'>	<li><a href='https://news.abs-cbn.com/business/03/01/23/bank-lending-expands-at-slower-pace-at-104-percent-in-january-bsp'>Bank lending expands at slower pace at 10.4 percent in January: BSP</a></li>	<li><a href='https://news.abs-cbn.com/business/04/03/23/bank-lending-expands-at-slower-pace-at-10-percent-in-february-bsp'>Bank lending expands at slower pace at 10 percent in February: BSP</a></li>	<li><a href='https://news.abs-cbn.com/business/05/31/23/bank-lending-expands-97-percent-in-april-bsp'>Bank lending expands 9.7 percent in April: BSP</a></li></ul>Consumer loans to residents, however, rose at a slightly faster rate of 23.7 percent in June from 22.7 percent in May given the increase in credit card and motor vehicle loans.<ul class='op-related-articles'>	<li><a href='https://news.abs-cbn.com/business/08/22/23/no-hikes-credit-card-fees-kept-steady-by-bsp'>No hikes, credit card fees kept steady by BSP</a></li></ul>BSP said the slowdown in credit activity reflects the impact of monetary policy tightening. Earlier in August, the BSP kept its policy rate at 6.25 percent after inflation slowed down for a sixth straight month in July.<ul class='op-related-articles'>	<li><a href='https://news.abs-cbn.com/business/08/17/23/bsp-keeps-interest-rates-steady'>BSP keeps interest rates steady at 6.25 percent</a></li></ul>"Looking ahead, the BSP remains prepared to ensure that domestic liquidity and lending dynamics are in line with its price and financial stability objectives," the Central Bank said. RELATED STORY:<figure class='op-interactive'><iframe allow='autoplay; fullscreen' frameborder='0' height='100%' id='ivsplayer01' scrolling='no' src='https://player.ivideosmart.com/ivsplayer/v4/dist/html/iframe-src.html?iframeid=ivsplayer01&key=e8c22c015ca9eafa76f1e3edfa03c603&spid=3001339&vid=2784567' width='100%'></iframe></figure><div class='iwantbar'>Watch more News on <a href='https://www.iwanttfc.com/#!/browse/Genres/News/tag_id_genres/id_news' target='_blank'>iWantTFC</a></div>

This slower than the 9.4 percent growth recorded in May, according to the BSP.The BSP said outstanding loans to residents, net of RRPs, also increased at a softer pace of 7.9 percent from 9.3 percent in May. Outstanding loans for production activities, meanwhile, went up by 6.3 in June, against May's 7.9 percent.

MANILA -- Bank lending continued to grow in June, the Bangko Sentral ng Pilipinas (BSP) said Thursday.Outstanding loans of universal and commercial banks, net of reverse repurchase placements with the BSP, grew 7.8 percent in June,

Bank lending grows 7.8 pct in June, slower than May | ABS-CBN News

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Bank lending grows 7.8 pct in June, slower than May

Bank lending grows 7.8 pct in June, slower than May