MANILA, Philippines – The non-performing loan ratio of universal and commercial banks improved to 3.26 percent in November last year from 3.37 percent a month earlier due to the expansion in the industry’s total loan portfolio, the Bangko Sentral ng Pilipinas (BSP) reported yesterday.
BSP data showed that the non-performing loans (NPL) of universal and commercial banks stood at P85.17 billion as of end-November, lower than the end-October level of P85.33 billion.
“This is the fourteenth consecutive month that the NPL ratio has been below four percent,” the BSP said in a statement. NPLs refer to past due loan accounts whose principal and/or interest is unpaid for 30 days.
BSP data showed that the industry’s total loan portfolio grew by 3.1 percent to P2.469 billion as of end-November from P2.534 billion as of end-October.
The gross assets of universal and commercial banks amounted to P5.472 billion as of end-November from P5.347 trillion as of end-October while the industry’s non-performing assets (NPA) reached P221.25 billion from P222.49 billion.
This resulted in an NPA ratio of 4.38 percent as of end-November from 4.16 percent as of end-October from 4.14 percent.
In October last year, the BSP earmarked P5 billion in special rediscounting budget to help microfinance, small and medium enterprises ravaged by the natural calamities.
The BSP decided to allocate additional rediscounting loans as nearly 98 percent of its P60 billion rediscounting budget has already been utilized. –Lawrence Agcaoili (The Philippine Star)
Invoke Article 33 of the ILO constitution
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