As of end-December 2007, the automobile loans (ALs) of universal/commercial banks (U/KBs) and thrift banks (TBs) reached P86.2 billion. This is higher by 3.8 percent from P83.0 billion last quarter and by 19.4 percent from P72.2 billion last year. Meanwhile, the ALs to TLP ratio went down to 4.0 percent from last quarter’s 4.3 percent but stood higher than last year’s 3.7 percent ratio.
TBs (including TB subsidiaries of U/KBs) continued to hold the biggest block of the total ALs at 62.6 percent share. U/KBs accounted for the remaining 37.4 percent.
The past due ALs to total ALs ratio was maintained at 5.1 percent from last quarter as the 3.3 percent climb in past due ALs to P4.4 billion nearly matched the growth in ALs. Nonetheless, this quarter’s ratio stood favorably lower than last year’s 5.2 percent ratio as the 17.6 percent hike in past due ALs was outweighed by the expansion in ALs.
The ratio of past due ALs to TLP was maintained at 0.2 percent in the three comparative periods. Meanwhile, the ratio of past due ALs to non-performing loans (NPL) stood at 3.3 percent (vs. 2.9 percent last quarter and 2.3 percent last year).