Outstanding consumer loans by universal and commercial banks grew by 24.1 percent year-on-year in February, far outpacing the 12.2 percent rise in overall bank lending for the same period. The BSP said this was slightly slower than the 24.4 percent consumer loan growth recorded in January.
The amount of cash and ‘near-cash’ assets circulating in the Philippine financial system expanded by 5.5 percent year-on-year in October, unchanged from the rate in September, reaching approximately P17.7 trillion.