Lending expands in February

PRELIMINARY data on outstanding loans of commercial banks, net of reverse repurchase (RRP) placements with the BSP, expanded at a slightly faster rate of 19.5 percent in February from 19.0 percent (revised) in January.

Meanwhile, the growth of bank lending inclusive of RRPs decelerated to 17.6 percent in February 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 increased by 1.8 percent and 1.1 percent, respectively.

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