Based on preliminary data, loans disbursed by universal and commercial banks amounted to P12.14 trillion in endJuly, P1.14 trillion higher than the P11 trillion recorded in the same period last year.
Bank lending growth marked the fastest in 19 months or since the 13.7 percent expansion in December 2022 despite the elevated high interest rate environment.
Michael Ricafort, chief economist at Rizal Commercial Banking Corp., said the loan growth in July is a good sign for the economy as it is faster than the gross domestic product (GDP) growth of 6.3 percent in the second quarter.
Diese Geschichte stammt aus der September 02, 2024-Ausgabe von The Philippine Star.
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Diese Geschichte stammt aus der September 02, 2024-Ausgabe von The Philippine Star.
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