BSP Governor Amando M. Tetangco, Jr. announced today that as of end-September 2013, outstanding FCDU loans stood at US$10.0 billion, up by US$248 million (or 2.6 percent) from the end-June 2013 level of US$9.7 billion.
The rising trend in outstanding FCDU loans during the past three (3) quarters may be attributed to the growth in external trade and positive business sentiment due to strong macro-economic fundamentals.
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 63.5 percent of total, while short-term (ST) accounts [or those with original maturities of up to one (1) year] comprised the 36.5 percent balance.
Loans to resident borrowers (mainly the private sector) represented 81.6 percent (US$8.1 billion) of the total portfolio, with the following sectors/industries as major beneficiaries: public utility firms (21.3 percent); merchandise and service exporters (15.4 percent); and producers/manufacturers, including oil companies (14.7 percent).
Gross disbursements during the quarter increased to US$11.6 billion from the previous quarter’s US$8.1 billion. The bulk of loan releases (93.9 percent) had short-term maturities, which were largely (74.3 percent) for working capital requirements.
FCDU deposit liabilities increased by US$525 million (or 2.0 percent) to reach US$26.2 billion from US$25.6 billion in June 2013. The bulk of the deposits (97.7 percent) continued to be held by residents. The loans to deposit ratio slightly improved to 38.1 percent from 37.9 percent in the second quarter.