As of end-March 2009, the total residential real estate loans (RRELs) of universal/commercial banks (U/KBs) and thrift banks (TBs) reached P160.4 billion, up by 4.2 percent from last quarter’s P153.9 billion and by 33.5 percent from year ago’s P120.2 billion. Likewise, the ratio of total RRELs to total loan portfolio (TLP), exclusive of interbank loans rose to 6.3 percent from last quarter’s 6.0 percent and year ago’s 5.7 percent ratio.
TBs held the bigger slice of the total residential real estate exposure of the banking system at 53.3 percent (P85.5 billion). U/KBs accounted for the remaining 46.7 percent (P74.9 billion).
In terms of loan quality, the ratio of non-performing RRELs to total RRELs of U/KBs and TBs went up to 7.5 percent from last quarter’s 7.0 percent but eased from year ago’s 7.6 percent ratio. The increase in the ratio from last quarter was driven by the hike in non-performing RRELs. Non-performing RRELs stood at P12.0 billion, up by 12.3 percent from last quarter’s P10.7 billion
Meantime, the non-performing RRELs to total non-performing loans (NPLs) ratio together with non-performing RRELs to TLP ratio went up to 9.0 percent (from last quarter’s 8.3 percent and year ago’s 7.1 percent) and 0.5 percent (from last quarter and year ago’s 0.4 percent), respectively.
By industry, the non-performing RRELs to total RRELs ratio of U/KBs was better than TBs’ ratio. The non-performing RRELs of U/KBs stood at 6.9 percent while TBs’ ratio settled at 8.0 percent. Likewise, U/KBs’ non-performing RRELs to NPLs and non-performing RRELs to TLP ratios stood favorably lower at 4.8 percent and 0.2 percent, respectively, as against TBs’ ratios of 26.9 percent and 2.3 percent.