Philippine banks expand lending by 12.2% in Dec 2024

Loans for production activities rose 10.8% during the month.

Outstanding loans extended by Philippine universal and commercial banks grew 12.2% year-on-year (YoY) in December 2024, according to data from the Bangko Sentral ng Pilipinas (BSP).

Lending grew at a faster rate than the 11.1% YoY in November in part thanks to an increase in loans to non-residents and loans for production activities.

Outstanding loans to non-residents expanded 5.7% in December, 3.9% in November.

Loans for production activities rose 10.8% YoY in December on the back of sustained increase in lending to key industries such as wholesale and retail trade, repair of motor vehicles and motorcycles (10.1%); electricity, gas, steam and air-conditioning supply (14.2%); manufacturing (7.4%); financial and insurance activities (7.4%); and construction (12.6%).

Consumer loans to residents went up 25% YoY in December, extending the 23.3% rise in November, due to the increase in credit card loans. salary-based general purpose consumption loans, and motor vehicle loans.

Follow the link for more news on

Bangko Sentral ng Pilipinas

Also Read

Chinese state banks’ enhanced policy roles increases support prospects

South Korea’s household loans rise at a slower pace in March

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