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Auto Loans Rise to P65.2 Billion in 2nd Quarter

09.12.2006

Automobile loans (ALs) extended by universal/commercial banks (U/KBs) and thrift banks (TBs) reached P65.2 billion as of end-June 2006.  The exposure is 4.6 percent higher than the P62.3 billion ALs of the previous quarter, and translates into a 12.3 percent surge from P58.1 billion a year ago. Thus, ALs accounted for 3.6 percent of the total loan portfolio (TLP), exclusive of interbank loans (IBL), higher than last quarter’s 3.5 percent and year ago’s 3.2 percent ratio. 

The proportion of past due ALs to total ALs went up to 5.0 percent from 4.7 percent last quarter as past due ALs rose to P3.3 billion from the base figure of P2.9 billion. Nonetheless, this quarter’s ratio is a slight improvement from year ago’s 5.1 percent ratio.

Meanwhile, the ratio of past due ALs to TLP was contained at 0.2 percent in the three comparative periods.  This quarter’s past due ALs represented 1.8 percent of the reported non-performing loans (NPL) of U/KBs and TBs, higher than the previous quarter’s 1.5 percent and year ago’s 1.4 percent ratio.  

TBs, through their consumer finance window, kept their lead over U/KBs in the automobile sector.  They accounted for 64.9 percent of the total ALs, while the remaining balance was held by U/KBs.

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