In a statement Friday afternoon, the central bank cited preliminary data showing that outstanding loans of universal and commercial banks – excluding short term placements with the regulator – grew by 9.6% year-on-year in April, up from 9.4% in March.
On a month-on-month seasonally-adjusted basis, these loans increased by 0.9%, the BSP said.
Outstanding loans to residents rose by 9.6% in April from 9.5% in March, while loans to non-residents surged by 10.8% from 9.1% the previous month.
Loans for production activities expanded by 7.8% in April, driven by real estate activities (11.0%), electricity and gas supply (9.2%), wholesale and retail trade (7.6%), transportation and storage (21.8%), and construction (15.1%).
Consumer loans to residents grew by 25.3%, primarily due to increases in credit card, motor vehicle, and salary-based loans.
The BSP said it remains committed to maintaining stable domestic liquidity and credit conditions in line with its financial stability goals.
