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FCDU Loan Portfolio Down Slightly by 0.3 Percent in Second Quarter

10.12.2001

Bangko Sentral Governor Rafael B. Buenaventura announced today that outstanding loans granted by FCDUs as of June 30, 2001 amounted to US$6,086 million, lower by US$19 million (about 0.3 percent) than the end-March 2001 figure of US$6,106 million and by US$40 million (or 0.6 percent) than the US$6,846 million level a year ago. The decline resulted from net repayments (US$47.1 million) which were partly offset by audit adjustments (US$27.7 million) during the quarter.

Overall loans-to-deposits ratio stood at 44.1 percent using the lagged computation basis, i.e., current period’s loans relative to deposits two quarters ago.

Medium and long-term accounts rose by US$61.9 million and represented 58.7 percent of total portfolio. In contrast, short-term accounts declined by US$81.3 million to US$2,511.9 million (41.3 percent of total).

Private sector borrowings dropped further with share to total down to 80.8 percent from 82.4 percent in March.

Governor Buenaventura reported that “exporters continued to represent the top beneficiaries of these loans accounting for 32 percent of total loan portfolio, followed by public utilities (25 percent) and oil companies (6 percent).”

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

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