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Bank lending expands at slower pace at 10.4 percent in January: BSP

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ABS-CBN News

<p>MANILA - Outstanding loans of universal and commercial banks, net of reverse repurchase (RRP) placements with the Bangko Sentral ng Pilipinas, expanded by 10.4 percent in January 2023, government data showed.</p><p>January&#x27;s growth is slower than the 13.7 percent revised total in December 2022, the BSP said in a statement. On a month-on-month seasonally-adjusted basis, lending was broadly unchanged, it said.</p><p>&quot;Brisk credit growth and adequate liquidity will continue to sustain the momentum of economic growth,&quot; the central bank said.</p><p>&quot;Looking ahead, the BSP will ensure that liquidity and lending conditions remain in line with its primary mandate of ensuring price and financial stability,&quot; it added.</p><p>Several banks have said that the continued economic recovery in 2022, especially in the fourth quarter, fueled lending growth including housing, and car loans as well as credit card use.</p><ul class="op-related-articles">	<li><a href="https://news.abs-cbn.com/business/10/17/22/bad-loans-decline-even-as-credit-card-use-rises-bsp">Bad loans declining even as credit card use rises says Bangko Sentral</a></li>	<li><a href="https://news.abs-cbn.com/business/01/04/23/bank-lending-expands-137-pct-in-november-bsp">Bank lending expands by 13.7 percent in November: BSP</a></li>	<li><a href="https://news.abs-cbn.com/business/08/01/22/return-of-consumer-confidence-driving-loan-growth-bpi">Despite rising interest rates, return of consumer confidence driving loan growth: BPI</a></li></ul><div><strong>RELATED VIDEO</strong></div><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&amp;key=e8c22c015ca9eafa76f1e3edfa03c603&amp;spid=3001339&amp;vid=2123372" 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>

Outstanding loans of universal and commercial banks, net of reverse repurchase (RRP) placements with the Bangko Sentral ng Pilipinas, expanded by 10.4 percent in January 2023, government data showed.