Lending growth slows down in January

PRELIMINARY data indicate that outstanding loans of commercial banks, net of reverse repurchase (RRP) placements with the BSP, expanded at a slower rate of 19.1 percent in January from 19.4 percent (revised) in December.

Ghe growth of bank lending inclusive of RRPs decelerated to 18.3 percent in January from 18.4 percent (revised) in the previous month. On a month-on-month seasonally-adjusted basis, commercial bank loans net of RRPs and loans inclusive of RRPs both increased by 1.3 percent.

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