Wednesday, October 12, 2011

Bank lending up 19.8% as of Aug.

By: Michelle V. Remo
Philippine Daily Inquirer
12:01 am | Wednesday, October 12th, 2011


Bank lending grew at an even faster pace in August, as the rising liquidity of the banking sector prompted banks to extend more loans.
According to the Bangko Sentral ng Pilipinas, the accelerated growth in lending will help boost the rate of expansion of the economy, which is being dampened by unfavorable external developments.
In a report, the BSP said the total outstanding loans extended by universal and commercial banks hit P2.62 trillion as of end-August this year, up 19.8 percent from P2.18 trillion as of the same period last year.

...
Read more:

No comments:

Post a Comment