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Automobile Loans Up By 1.9 Percent From Last Quarter

05.18.2009

As of end-December 2008, total automobile loans (ALs) of universal/commercial banks (U/KBs) and thrift banks (TBs), inclusive of non-bank subsidiaries amounted to P78.6 billion. This is higher up by 1.9 percent from last quarter’s P77.2 billion. However, the proportion of total ALs to total loan portfolio (TLP), exclusive of interbank loans (IBL) dropped to 3.0 percent from last quarter’s 3.2 percent ratio with the faster 8.9 percent growth in TLP, net of IBL.

The report did not present comparative year-on-year figures due to the change in financial reporting. Beginning Financial Reporting Package (FRP) report as of end-March 2008, ALs are now defined as ALs to individuals for consumption purposes as against ALs granted to individuals and corporate accounts in prior periods.

TBs (inclusive of TB subsidiaries of U/KBs) took the lion’s share of total ALs at 54.6 percent. U/KBs held a share of 45.3 percent while non-bank subsidiaries accounted for remaining 0.1 percent.

Loan quality improved as the non-performing ALs to total ALs ratio dropped to 4.9 percent from last quarter’s 5.1 percent ratio. This transpired as the 2.7 percent reduction in non-performing ALs to P3.8 billion was complemented by the hike in ALs.

Meantime, the non-performing ALs to total non-performing loans (NPL) ratio was maintained at 2.9 percent from last quarter. Similarly, the non-performing ALs to TLP ratio barely changed at 0.2 percent.

The ratios of non-performing ALs to total ALs (at 4.8 percent) and non-performing ALs to TLP (at 0.1 percent) of U/KBs together with their subsidiaries stood better than that of TBs not affiliated with U/KBs at 5.8 percent and 0.3 percent, respectively. On the other hand, TBs not affiliated with U/KBs got better non-performing ALs to total NPLs at 2.5 percent compared with the 3.0 percent posted by U/KBs with subsidiaries.

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