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FCDU Loans Post Eight Percent Growth in the Fourth Quarter of 2011

03.30.2012

BSP Gov. Amando M. Tetangco, Jr. announced that outstanding loans granted by Foreign Currency Deposit Units (FCDUs) of banks amounted to US$7.1 billion at the close of 2011, reflecting an increase of US$501 million (7.6 percent) from the end-September 2011 level of US$6.6 billion.  Loan transactions resulted in net loan disbursements of US$535 million (excess of disbursements over repayments) due to the favorable interest rate environment as well as positive business sentiment. Year-on-year, an expansion of 20.9 percent (US$1.2 billion) in the loan portfolio was noted as disbursements exceeded loan repayments.

 The maturity profile of outstanding FCDU loans was as follows: medium- to long-term (MLT) loans [or those payable over a term of more than one (1) year] represented 59.5 percent of total, while short-term (ST) accounts [or those with original maturities of up to one (1) year] represented the 40.5 percent balance.

Loans to resident borrowers (mainly from the private sector) reached US$5.8 billion and represented about 82.4 percent of the total portfolio.

Gross disbursements during the quarter amounted to US$3.7 billion, up by 3.0 percent from the previous quarter’s level. About 79.3 percent of the new loans had short-term maturities. Major loan releases went to the following sectors: public utilities, financial services and producers/manufacturers.

FCDU deposit liabilities dipped by 1.6 percent to US$24.2 billion from the end-September 2011 figure.  The bulk (97.5 percent) of these deposits continued to be held by residents.  The overall loans-to-deposits ratio increased from 26.7 percent in September 2011 to 29.2 percent by year-end due to the growth in loans vis-à-vis the lower level of deposits.

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