The level of auto loans (ALs) continued its upward trend, closing at P139.2 billion as of end-December 2011, up by 4.8 percent from last quarter’s P132.7 billion and by 18.3 percent from last year’s P117.6 billion. Universal/commercial banks (U/KBs) drove both quarterly and annual growth with increments of 6.3 percent (P4.2 billion) from last quarter and 27.0 percent (P15.3 billion) from last year.
Including bank subsidiaries, total ALs rose to P139.4 billion as of end-December 2011, higher by P6.4 billion (4.8 percent) than last quarter’s P133.0 billion and by P21.6 billion (18.3 percent) over last year’s P117.8 billion.
U/KBs represented 65.9 percent (P4.2 billion) of total ALs’ quarter-on-quarter growth and 70.8 percent (P15.3 billion) of total ALs’ year-on-year growth. Their subsidiaries held 31.4 percent (P2.0 billion) of this quarter’s hike and 28.3 percent (P6.1 billion) of the increment from last year’s figures. On the other hand, thrift banks (TBs) not affiliated with U/KBs contributed to total ALs’ growth from last quarter by only 2.7 percent (P0.2 billion) and 0.9 percent (P0.2 billion) from last year.
The industry’s non-performing ALs to total ALs ratio improved to 4.3 percent from 4.4 percent last quarter as the rise in total ALs surpassed the hike in non-performing ALs. U/KBs and non-linked TBs posted a ratio of 4.6 percent, higher than that of subsidiaries of U/KBs at 3.9 percent. On the other hand, the share of non-performing ALs to total non-performing loans (NPLs) has been on an upward trend, with the ratio hitting 4.5 percent as of end-December 2011. This development may be attributed to the general decline of total NPLs as opposed to the increase in non-performing ALs. Moreover, subsidiaries of U/KBs consistently posted a higher non-performing ALs to total NPLs ratio compared to U/KBs and non-linked TBs, with the ratio of subsidiaries of U/KBs at 14.3 percent while that of U/KBs and non-linked TBs was at 3.1 percent.
Meanwhile, the non-performing ALs to total loan portfolio was kept stable at 0.2 percent in the three comparative periods, with the ratio of subsidiaries of U/KBs also consistently above that of U/KBs and non-linked TBs.
View Table 1 | Table 2