Philippine bank loans up 12.2% in February

Consumer loans to residents rose by 24.1% during the month.

Philippine banks lent out 12.2% year-on-year (YoY) more in February 2025 compared to a year earlier, according to preliminary data from the Bangko Sentral ng Pilipinas (BSP).

Outstanding loans to residents rose by 12.6% YoY in February, extending the 13.3% rise in the previous month.

Outstanding loans to non-residents decreased by 3.2% in February, following a 3.5% decline in January.

Loans for production activities went up by 11.2% in February from an 11.8% growth in January.

The growth was driven largely by increased lending to key industries such as electricity, gas, steam and air-conditioning supply (21.5%); wholesale and retail trade, repair of motor vehicles and motorcycles (13.7%); manufacturing (0.9%); construction (12.7%); and transportation and storage (20.6%), the central bank said.

Consumer loans to residents grew by 24.1% in February from 24.4% in January, driven by increases in credit card and motor vehicle loans.