Bank loans and money supply increased at double-digit levels in September from a year ago, in line with the overall economic growth, the Bangko Sentral ng Pilipinas said Tuesday. Bank loans, inclusive of RRPs, increased 20.1 percent in September, also higher than 17.9 percent in August. Growth in loans for household consumption slowed down to 20 percent in September from 22.8 percent in August. The expansion in credit loans was tempered by the slower growth in motor vehicle loans, salary-based general purpose loans and other types of household loans. “The BSP will continue to ensure that the expansion in domestic credit and liquidity conditions proceeds in line with overall economic growth,” it said.

Source: The Standard October 31, 2017 12:11 UTC