Non-performing loans (NPLs) of Philippine banks rose to 3.57 percent of the total loan portfolio as of end-May from 3.45 percent in April, data from the Bangko Sentral ng Pilipinas show.
It was also up from 3.46 percent registered in May 2023.
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Gross non-performing loans reached P495.67 billion in May, up from P480.65 billion in April and P436.11 billion a year earlier. Total loans decreased to P13.89 trillion in May from P13.94 trillion in April, indicating a deceleration of spending amid the high interest rate environment.
Other metrics, however, showed improvement. The past due ratio eased to 4.38 percent in May from 4.43 percent in April.
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