Sunday, January 29, 2023
manilastandard.net
ADVERTISEMENT
  • About
  • News
    • Top Stories
    • National
    • World News
    • Pinoy Abroad
    • Features
  • Opinion
    • Editorial
    • Columns
    • Soundbytes
  • LGUs
    • NCR
    • Luzon
    • Visayas
    • Mindanao
  • Business
    • Corporate
    • Economy & Trade
    • Stocks
    • Money
    • Agri & Mining
    • Power & Tech
    • IT & Telecom
  • Sports
    • Basketball
    • Volleyball
    • Fightsports
    • Active
    • Sports Plus
    • One Championship
    • Columns
  • Entertainment
    • TV & Movies
    • Celebrity Profiles
    • Music & Concerts
    • Digital Media
    • Columns
  • Lifestyle
    • Food
    • Culture & Media
    • Fashion
    • Health and Home
    • Leisure
    • Shopping
    • Columns
  • Others
    • Pets
    • Pop.Life
      • Newsmakers
      • Hangouts
      • A-Pop
      • Post Its
      • Performances
      • Malls & Bazaars
      • Hobbies & Collections
    • Technology
      • Gadgets
      • Computers
      • Business
      • Tech Plus
    • MS ON THE ROAD
      • Sedan
      • SUV
      • Truck
      • Bike
      • Accessories
      • Motoring Plus
      • Commuter’s Corner
    • Home & Design
      • Residential
      • Commercial
      • Construction
      • Interior
    • Spotlight
    • Gallery
      • Photos
      • Videos
    • Events
      • Seminars
      • Exhibits
      • Community
    • Biyahero
      • Travel Features
      • Travel Reels
      • Travel Logs
  • Advertise with Us
No Result
View All Result
  • About
  • News
    • Top Stories
    • National
    • World News
    • Pinoy Abroad
    • Features
  • Opinion
    • Editorial
    • Columns
    • Soundbytes
  • LGUs
    • NCR
    • Luzon
    • Visayas
    • Mindanao
  • Business
    • Corporate
    • Economy & Trade
    • Stocks
    • Money
    • Agri & Mining
    • Power & Tech
    • IT & Telecom
  • Sports
    • Basketball
    • Volleyball
    • Fightsports
    • Active
    • Sports Plus
    • One Championship
    • Columns
  • Entertainment
    • TV & Movies
    • Celebrity Profiles
    • Music & Concerts
    • Digital Media
    • Columns
  • Lifestyle
    • Food
    • Culture & Media
    • Fashion
    • Health and Home
    • Leisure
    • Shopping
    • Columns
  • Others
    • Pets
    • Pop.Life
      • Newsmakers
      • Hangouts
      • A-Pop
      • Post Its
      • Performances
      • Malls & Bazaars
      • Hobbies & Collections
    • Technology
      • Gadgets
      • Computers
      • Business
      • Tech Plus
    • MS ON THE ROAD
      • Sedan
      • SUV
      • Truck
      • Bike
      • Accessories
      • Motoring Plus
      • Commuter’s Corner
    • Home & Design
      • Residential
      • Commercial
      • Construction
      • Interior
    • Spotlight
    • Gallery
      • Photos
      • Videos
    • Events
      • Seminars
      • Exhibits
      • Community
    • Biyahero
      • Travel Features
      • Travel Reels
      • Travel Logs
  • Advertise with Us
No Result
View All Result
manilastandard.net
No Result
View All Result
Home Spotlight Full Reopening: PH Economy Nears Pre-Pandemic Level

PH banks sound amid headwinds

Julito G. RadabyJulito G. Rada
August 29, 2022, 12:20 am
in Full Reopening: PH Economy Nears Pre-Pandemic Level, Spotlight
Reading Time: 3 mins read
A A
Share on FacebookShare on TwitterShare on Email

The banking system is another strength of the Philippine economy as it remains sound and stable despite the risks coming from domestic and external fronts.

The banking industry maintained its resilience and robust footing as shown by continued growth in assets, deposits, and profit, as well as stable capital and liquidity buffers and ample provision for credit losses.

Total assets of the industry expanded 6.7 percent year on year to P20.7 trillion as of end-April 2022. The growth rate was higher than the 3.9 percent in April 2021 but slightly lower than the 6.9 percent a month ago.

Deposit generation mainly funded the year-on-year asset growth. By banking group, the share of universal and commercial banks was maintained at 94 percent (P19.4 trillion) of total assets of the banking system, followed by thrift banks at 4.4 percent (P917.8 billion), and rural and cooperative banks at 1.6 percent (P329 billion).

Total loan portfolio further grew 7 percent year on year to P11.4 trillion as of end-April 2022. This growth rate was a turnaround from the 2.5-percent contraction in April 2021 and relatively better than the 5.8-percent growth a month ago.

ADVERTISEMENT

It also marked the ninth consecutive month of positive year-on-year growth rate in the total loan portfolio of the banking industry. The loan expansion largely came from the real estate, manufacturing, information and communication, wholesale and retail trade, and financial and insurance sectors.

Collectively, these sectors accounted for around 53 percent of the total loans of the domestic banking system. Bangko Sentral ng Pilipinas has generally kept policy rates low and maintained an accommodative policy stance, which enabled banks to pass on lower interest rates to their clients during the pandemic.

However, with the reopening of the economy amid favorable market conditions, the BSP has started to gradually raise the policy rate after a series of policy rate cuts in 2020.

The BSP has already raised the policy rates this year four times to 3.75 percent.

Overall, a declining trend has been observed in both mean and median weighted average interest rates (WAIR) since the start of the pandemic.

But lending rates have started to inch up in 2022. For the period ending March 2022, the overall mean WAIR on loans of big banks stood at 6.4 percent, lower than the 8.2 percent in March 2020 (the start of quarantine period) but higher than the 5.5 percent in March 2021.

The total amount of new loans granted by big banks for the month of March 2022 stood at P827.8 billion. Loans to private corporations had the largest share of new loans granted at 69.2 percent (P572.6 billion), followed by loans to individuals at 15.6 percent (P129.1 billion).

Meanwhile, agri-agra loans and micro, small and medium enterprises loans had 8.9 percent share (P73.3 billion) and 4.6 percent share (P38.2 billion), respectively, of new loans granted for the same period.

Banks likewise continued to provide credit and relief to their borrowers. As of end-April2022, the level of restructured loans expanded by 40.7 percent year on year to P340.5 billion, equivalent to 3 percent of the total loan portfolio of the banking system.

Amid the pandemic, the sustained confidence of depositors was evident in the continued deposit growth. Total deposit liabilities of the banking system grew by 7.2 percent year on year to P16.1 trillion as of end-April 2022, higher than the 6-percent growth rate in April 2021.

The banking system sustained its profitability as combined net profits climbed 26.3 percent year on year to P66.3 billion for the period ending March 2022.

Tags: Bangko Sentral ng Pilipinasbanking systemPhilippine economytotal loan portfolio
ADVERTISEMENT
Julito G. Rada

Julito G. Rada

Related Posts

Philippine halal-certified food products set to steal the spotlight at Gulfood 2023

byManila Standard
January 28, 2023, 12:31 pm
0
8
Philippine halal-certified food products set to steal the spotlight at Gulfood 2023

A delegation of 18 Philippine companies will showcase premium halal-certified food products through a country exhibit at the Gulf Food...

Read more

New Mitsubishi Xpander Cross
has crossed its way to PH shores

byManila Standard
January 27, 2023, 8:00 pm
0
8
Outdoor Expo North 2023 set this February

Mitsubishi Motors Philippines Corporation (MMPC) officially unveils the much-anticipated 23MY New Mitsubishi Xpander Cross. A modern 7- seater MPV Crossover...

Read more

All-new Honda AirBlade 160 is choice of professionals

byManila Standard
January 27, 2023, 7:55 pm
0
8
Outdoor Expo North 2023 set this February

Active youngsters know exactly what they want, including their preferences for a daily ride. And despite their precise demands, The...

Read more

Ford PH, ARB join forces to spice up next-gen Ford vehicles

byManila Standard
January 27, 2023, 7:50 pm
0
8
Outdoor Expo North 2023 set this February

Ford Philippines has joined forces with global off-road accessories provider ARB to give owners of the next-generation Ford Ranger and...

Read more

Automotive veteran Santos takes helm at Foton Motor PH

byManila Standard
January 27, 2023, 7:45 pm
0
8
Automotive veteran Santos takes helm at Foton Motor PH

It’s a jubilant start of the year at the automotive giant’s headquarters at the Clark Freeport Zone, as FOTON Motor...

Read more

Outdoor Expo North 2023 set this February

byManila Standard
January 27, 2023, 7:40 pm
0
8
Outdoor Expo North 2023 set this February

Head for the hills and bask in the beauty of the outdoors with Outdoor Expo North 2023! The largest gathering...

Read more

Print Edition

View More

Recent Posts

  • The Language of Cats
  • Debarking (Based on Human Convenience): A Clear Violation of Animal Rights and Welfare
  • New interior design trends: Happier, vibrant and eco-conscious
  • A new perspective in modern prep fashion
  • Jumpstart your money goals this 2023
  • PH adaptation of hit Korean film marks fresh pairing of Bela Padilla, Marco Gumabao
  • Trot singer Young Tak announces PH visit 
  • Introducing new drag artist Viñas Deluxe  

Advertisement

Latest News

PH adaptation of hit Korean film marks fresh pairing of Bela Padilla, Marco Gumabao

byPatricia Taculao
January 28, 2023, 7:10 pm
0
8
Introducing new drag artist Viñas Deluxe  

It’s been three years since Bela Padilla acquired the script for the Philippine adaptation of Spellbound, the top-grossing 2011 South...

Read more

Trot singer Young Tak announces PH visit 

byManila Standard
January 28, 2023, 7:00 pm
0
8
Introducing new drag artist Viñas Deluxe  

Highly acclaimed trot singer and Korean superstar Young Tak is coming to the Philippines, as announced by global concert promoter...

Read more

Introducing new drag artist Viñas Deluxe  

byManila Standard
January 28, 2023, 6:50 pm
0
8
Introducing new drag artist Viñas Deluxe  

Dubbed as “Drag Pop Misis,” Viñas Deluxe is the latest drag queen-turned-recording artist to sign with Tarsier Records. The ‘pambansang...

Read more

Handicraft exporter creates unique products

byManila Standard
January 28, 2023, 6:40 pm
0
8
Crosta Pizzeria co-owner shares her brand of leadership

Having her own export business is a dream project for Joam Basalo. It took her a decade and a half...

Read more

Business reality show host talks of business pitches in a new book

byManila Standard
January 28, 2023, 6:30 pm
0
8
Crosta Pizzeria co-owner shares her brand of leadership

Learn the tips and hacks for making compelling business pitches and winning big-ticket investors as John Aguilar, serial entrepreneur and...

Read more

Advertisement

ADVERTISEMENT
Facebook Twitter Instagram Youtube

ABOUT US

Manila Standard

Manila Standard website (manilastandard.net), launched in August 2002, extends the newspaper’s reach beyond its traditional readers and makes its brand of Philippine news and opinion available to a much wider and geographically diverse readership here and overseas.

Digital Edition

In tone and content, the online edition mirrors the editorial thrust of the newspaper. While hewing to the traditional precepts of fairness and objectivity, MS believes the news of the day need not be staid, overly long or dry. Stories are succinct, readable and written in a lively style that has become a hallmark of the newspaper.

Download – Today’s Paper

Search

No Result
View All Result

6th Floor Universal Re Bldg., 106 Paseo De Roxas cor. Perea Street, Legaspi Village, 1226 Makati City Philippines

Trunklines: 832-5554, 832-5556, 832-5558

© 2021 Manila Standard - Designed and Developed by Neitiviti Studios.

No Result
View All Result
  • About
  • News
    • Top Stories
    • National
    • World News
    • Pinoy Abroad
    • Features
  • Opinion
    • Editorial
    • Columns
    • Soundbytes
  • LGUs
    • NCR
    • Luzon
    • Visayas
    • Mindanao
  • Business
    • Corporate
    • Economy & Trade
    • Stocks
    • Money
    • Agri & Mining
    • Power & Tech
    • IT & Telecom
  • Sports
    • Basketball
    • Volleyball
    • Fightsports
    • Active
    • Sports Plus
    • One Championship
    • Columns
  • Entertainment
    • TV & Movies
    • Celebrity Profiles
    • Music & Concerts
    • Digital Media
    • Columns
  • Lifestyle
    • Food
    • Culture & Media
    • Fashion
    • Health and Home
    • Leisure
    • Shopping
    • Columns
  • Pop.Life
    • Newsmakers
    • Hangouts
    • A-Pop
    • Post Its
    • Performances
    • Malls & Bazaars
    • Hobbies & Collections
  • Technology
    • Gadgets
    • Computers
    • Business
    • Tech Plus
  • MS ON THE ROAD
    • Sedan
    • SUV
    • Truck
    • Bike
    • Accessories
    • Motoring Plus
    • Commuter’s Corner
  • Home & Design
    • Residential
    • Commercial
    • Construction
    • Interior
  • Spotlight
  • Gallery
    • Photos
    • Videos
  • Events
    • Seminars
    • Exhibits
    • Community
  • Biyahero
    • Travel Features
    • Travel Reels
    • Travel Logs
  • Pets
  • Advertise with Us

© 2021 Manila Standard - Designed and Developed by Neitiviti Studios.

Welcome Back!

Login to your account below

Forgotten Password?

Retrieve your password

Please enter your username or email address to reset your password.

Log In

Install Manila Standard Web App

Install App