As of end-March 2010, total automobile loans (ALs) of universal/commercial banks (U/KBs) and thrift banks (TBs), inclusive of non-bank subsidiaries reached P99.8 billion, higher by 5.5 percent than last quarter’s P94.6 billion and by 22.1 percent than year ago’s P81.8 billion. Likewise, the ratio of ALs to total loan portfolio (TLP), exclusive of interbank loans rose to 3.9 percent from last quarter’s 3.4 percent and year ago’s 3.2 percent ratio.
By main group, TBs (inclusive of TB subsidiaries of U/KBs) accounted for more than half of the total ALs at 52.1 percent. U/KBs held 47.7 percent while subsidiary non-bank financial institutions accounted for the remaining 0.2 percent.
In terms of loan quality, the non-performing ALs to total ALs ratio of U/KBs and TBs, inclusive of subsidiary NBFIs of U/KBs improved to 5.0 percent from last quarter’s and year ago’s 5.2 percent ratio. The quarter-on-quarter movement took place as the 2.0 percent hike in non-performing ALs to P5.0 billion was outmatched by the larger growth in ALs.
Meantime, the non-performing ALs to total non-performing loans (NPL) ratio stood at 3.7 percent (favorably down from last quarter’s 3.8 percent but up from year ago’s 3.1 percent). On the other hand, the non-performing ALs to TLP ratio was maintained at 0.2 percent in the three comparative periods.
U/KBs (inclusive of subsidiaries) registered a better non-performing ALs to total ALs ratio at 5.0 percent compared to TBs that are not affiliated with U/KBs at 6.3 percent. TBs that are not affiliated with U/KBs, on the other hand, posted a favorably lower non-performing ALs to total NPLs ratio of 1.8 percent as against U/KBs’ 3.9 percent. Meantime, both groups reported non-performing ALs to TLP ratio of 0.2 percent.