PH banks’ loans up 10.4% in July

Growth of loans to residents slowed over the month.

Philippine banks’ loans grew 10.4% year-on-year (YoY) in July 2024, extending the 10.1% expansion in June, according to preliminary data from the Bangko Sentral ng Pilipinas (BSP).

Outstanding loans to residents rose by 10.4% YoY in July.

Outstanding loans to non-residents grew by 9.2% YoY over the same month, slowing from the 9.8% loan growth in June.

Outstanding loans for production activities rose by 8.8% YoY over the same period, led by lending rising over major sectors: real estate (12%); professional, scientific, and technical activities (438.3%); manufacturing (7.9%); transportation and storage (20.6%); and wholesale and retail trade, repair of motor vehicles and motorcycles (6%).

Consumer loans to residents grew by 24.3% YoY, slightly slower than the 25% growth in June, mainly due to credit card lending, the central bank said.

Follow the link for more news on

Bangko Sentral ng Pilipinas

Also Read

South Korean banks' delinquency rate inches up to 0.48% in October

Taiwanese banks extended $169.21m in SME loans in October

Since you're here...

...there are many ways you can work with us to advertise your company and connect to your customers. Our team can help you dight and create an advertising campaign, in print and digital, on this website and in print magazine.

We can also organize a real life or digital event for you and find thought leader speakers as well as industry leaders, who could be your potential partners, to join the event. We also run some awards programmes which give you an opportunity to be recognized for your achievements during the year and you can join this as a participant or a sponsor.

Let us help you drive your business forward with a good partnership!

I want to download the media kit