As of August , the Philippine central bank reports that total outstanding loans from universal and commercial banks expanded by annually, marking a slight deceleration from the growth seen in July.
Key Loan Movements:
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Overall Lending: Growth to residents slowed to in August (from in July). Meanwhile, the decline in loans to non-residents narrowed significantly, easing to a decrease from an drop in the previous month.
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Business Lending: Loans supporting business activities grew by , also slower than the growth in July.
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Top Growing Sectors: The strongest increases in lending were seen in electricity, gas, stream, and air-conditioning supply (), real estate activities (), and wholesale and retail trade ().
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Other Growth Areas: Lending also grew for information and communication () and financial and insurance activities ().
