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Update on NPLs of Rural and Cooperative Banks as of End-September 2003

03.04.2004

The industry’s non-performing loans (NPL) ratio as of end-September 2003 improved anew, settling at 13.40 percent from 13.68 percent last quarter. This developed as growth in NPLs lagged behind the growth in Total Loan Portfolio (TLP). NPL level increased by 0.8 percent to P7.3 billion while TLP expanded by 2.9 percent to P54.2 billion. This quarter’s NPL ratio was also better by 1.25 percentage points than a year ago’s ratio of 14.65 percent.

The Non-Performing Assets (NPAs) ratio of the industry, however, slightly rose to 16.98 percent from 16.93 percent last quarter. Nevertheless, the NPA ratio this quarter showed improvement from a year ago’s ratio of 17.97 percent. NPAs rose by 2.8 percent to P15.1 billion. This was due to the 4.7 percent growth in Real and Other Properties Owned or Acquired (ROPOA) in settlement of loans and the 0.8 percent increase in NPL level.

The NPL coverage ratio meanwhile improved by 0.39 percentage point to 35.30 percent from 34.91 percent last quarter. In contrast, the NPA coverage ratio declined by 0.11 percentage point to 18.24 percent from 18.35 percent last quarter, but remained better than a year ago’s 18.20 percent.

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