Bank loans expanded by 12.2 percent year-on-year in February 2025, slightly slower than the 12.8-percent expansion seen in January 2025, the Bangko Sentral ng Pilipinas (BSP) said Tuesday.
It said that on a month-on-month seasonally-adjusted basis, outstanding loans of universal and commercial banks (U/KBs), net of reverse repurchase (RRP) placements with the BSP, rose 0.6 percent.
Outstanding loans to residents, net of RRPs, increased 12.6 percent in February from 13.3 percent in the previous month.
Meanwhile, outstanding loans to non-residents decreased by 3.2 percent in February, following a 3.5-percent decline in the previous month.
Loans for production activities went up by 11.2 percent in February from an 11.8-percent growth in January.
The growth was driven largely by increased lending to key industries such as electricity, gas, steam and air-conditioning supply (21.5 percent); wholesale and retail trade, repair of motor vehicles and motorcycles (13.7 percent); manufacturing (0.9 percent); construction (12.7 percent); and transportation and storage (20.6 percent).
Consumer loans to residents grew by 24.1 percent in February from 24.4 percent in January, driven by increases in credit card and motor vehicle loans.
“Looking ahead, the BSP will ensure that domestic liquidity and bank lending conditions are in line with its price and financial stability mandates,” the BSP said.