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Auto Loans Rise Anew in First Quarter 2007

06.18.2007

Automobile loans (ALs) extended by universal/commercial banks (U/KBs) and thrift banks (TBs) reached P74.7 billion as of end-March 2007. This was higher by 3.5 percent than last quarter’s P72.2 billion and by 19.9 percent than year ago’s P62.3 billion. ALs represented 3.9 percent (vs. 3.7 percent last quarter and 3.5 percent a year ago) of total loan portfolio (TLP), exclusive of interbank loans (IBL).
 
TBs, through their consumer finance window, kept their lead over U/KBs in extending ALs. TBs (including TB subsidiaries of U/KBs) accounted for 64.6 percent of total ALs.

Meanwhile, the proportion of past due ALs to total ALs stood at 5.1 percent, better than last quarter’s ratio of 5.2 percent but higher than year ago’s 4.7 percent ratio. The quarter-on-quarter improvement in the past due ratio took place as the 1.1 percent buildup in past due ALs to P3.8 billion from P3.7 billion was outpaced by the expansion in total ALs.

The ratio of past due ALs to TLP was contained at 0.2 percent in the three comparative periods. On the other hand, the ratio of past due ALs to non-performing loans (NPL) settled at 2.4 percent, up from last quarter’s 2.2 percent and year ago’s 1.5 percent ratios.

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