,Philippines
Photo courtesy of Krisia Vinzon.

Philippine banks’ bad loans total $9.41b in November 2021

The figure is a slight improvement from October’s gross NPLs.

Banks in the Philippines’ saw their bad loans lessen slightly in November 2021, although it remained above the PHP480b mark for the sixth consecutive month.

Gross non-performing loans (NPLs) totalled approximately $9.41b (PHP481.88b) for the month of November, according to data from the local regulator, Bangko Sentral ng Pilipinas (BSP). This equates to an NPL ratio of 4.35.

The figure is an improvement from the previous month’s $9.45b (PHP483.98b), or an NPL ratio of 4.42. 

The country’s gross NPLs last dipped below PHP480b in May, when it totalled PHP478.92b ($9.35b). However, the NPL ratio for the month was higher, at 4.63.

(PHP 1 = US$0.02)

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