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FCDU Loan Portfolio Down By 2 Percent in First Quarter of 2001

07.23.2001

BSP Governor Rafael B. Buenaventura reported that outstanding FCDU loans as of March 31, 2001 amounted to US$6,106 million, or US$136 million (about 2 percent) lower than the end-December 2000 figure of US$6,242 million and by US$700 million (or 10 percent) vis-à-vis the US$6,806 million level a year ago. The decline resulted from net payments (US$80 million) and negative adjustments (US$56 million) principally arising from the strengthening of the US Dollar versus other currencies.

Overall loans-to-deposits ratio stood at 43.9 percent using the lagged computation basis, i.e., current period’s loans relative to deposits two quarters ago.

Medium and long-term exposures continued to increase, with the current level (US$3,512 million) and share (58 percent) to total portfolio being the highest recorded since end-1992.

“Exporters remained the principal beneficiaries of these loans, accounting for 34 percent (US$2,065 million) of total loan portfolio, followed by public utilities (25 percent or US$1,547 million) and oil companies (5 percent or US$293 million),” the Governor said.

The top five lenders consisting of four local banks and one foreign bank had combined exposures equivalent to 39 percent of total outstanding FCDU credits.

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