FOREIGN currency-denominated loans granted by local banks as of end-June 2016 increased $64 million to $12.1 billion from the end-March level, Bangko Sentral ng Pilipinas said over the weekend.
The regulator said while gross disbursements grew 19.7 percent, repayments increased 16.5 percent.
Outstanding loans to resident borrowers declined 0.3 percent to $8.42 billion from $8.44 billion in the second quarter and represented 69.8 percent of total.
The sectors and industries that benefitted from the loans were merchandise and service exporters (24.9 percent); towing, tanker, trucking, forwarding, personal and other individuals (20.6 percent); public utility firms (9.7 percent); producers/manufacturers, including oil companies (5.7 percent); and management/holding and stock brokerage (2.5 percent). The $0.8 billion balance went to other borrowers, including the public sector.
Gross disbursements during the quarter rose 19.7 percent to $11.2 billion from $9.4 billion. About 95.4 percent of loan releases had short-term maturities, or those with original maturities of up to one year.
Outstanding FCDU loans were mostly medium- to long-term (or those payable over a term of more than one year), representing 70.7 percent of the total, while short-term accounts comprised 29.3 percent.
FCDU deposit liabilities increased slightly from $34.66 billion in the previous quarter to $34.68 billion in June 2016. The bulk of deposits (97.3 percent) are held by residents. The overall loans-to-deposit ratio increased to 34.8 percent from 34.6 percent.
Bangko Sentral said higher FCDU deposits represented additional buffer against external shocks, secondary to the country’s gross international reserves.
Meanwhile, Bangko Sentral said stand-alone thrift banks, and rural and cooperative banks remained well capitalized at end-December 2015.
