Philippine banks' NPL ratio slightly climbs to 2.11% in July

It's apparently better than July last year.

The non-performing loan ratio of universal and commercial banks in the Philippines was relatively steady at 2.11% in July from 2.10% in June.

According to a research note from Maybank Kim Eng, this is much better than 2.68% recorded in July last year.

In absolute amount, NPL went down 5.6% to PHP95.19b, while total loan portfolio increased 20% to PHP4.51t.

Further, banks also set aside higher loan loss reserves at 140.49% from 131.07% a year ago.