Automobile loans (ALs) extended by universal/commercial banks (U/KBs) and thrift banks (TBs) reached P68.0 billion as of end-September 2006. The exposure is 4.3 percent higher than the P65.2 billion ALs of the previous quarter, and translates into a 13.5 percent surge from P59.9 billion a year ago. Thus, ALs accounted for 3.7 percent of the total loan portfolio (TLP), exclusive of interbank loans (IBL), higher than last quarter’s 3.6 percent and year ago’s 3.5 percent ratio.
The proportion of past due ALs to total ALs at 5.0 percent barely moved from last quarter as past due ALs were contained at the P3.4 billion level. However, this quarter’s ratio closed a little higher than the 4.8 percent ratio recorded a year ago.
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 1.9 percent of the reported non-performing loans (NPL) of U/KBs and TBs, same ratio as the previous quarter, but registered higher than year ago’s 1.4 percent ratio.
TBs, through their consumer finance window, kept their lending lead over U/KBs in the automobile sector. They accounted for 64.8 percent of the total ALs, while the remaining balance was held by U/KBs.