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FCDU Loans up slightly in Q3 2016

12.29.2016

Bangko Sentral ng Pilipinas Governor Amando M. Tetangco, Jr. announced today that as of end-September 2016, outstanding loans granted by FCDUs of banks stood at US$12.4 billion, higher by US$381 million (3.2 percent) from the end-June 2016 level. While gross disbursements declined by 7.2 percent, repayments were likewise lower by 10.3 percent, resulting in net lending by banks.

Outstanding loans to resident borrowers were up by 0.8 percent to US$8.48 billion in the third quarter and represented 68.2 percent of total. The following sectors/industries were the major beneficiaries of funds: merchandise and service exporters (US$3.2 billion or 25.4 percent of total); towing, tanker, trucking, and forwarding (US$2.4 billion or 19.7 percent of total); public utility firms (US$1.2 billion or 9.6 percent of total loans); producers/manufacturers, including oil companies (US$0.7 billion or 5.9 percent of total); and management/holding and stock brokerage (US$0.5 billion or 3.8 percent of total).  The US$0.5 billion balance (or 3.9 percent) of loans to residents went to other borrowers including the public sector.

Gross disbursements during the reference quarter were lower from US$11.2 billion in the previous quarter to US$10.4 billion in the third quarter, with about 91.2 percent of loan releases having short-term (ST) maturities [or those with original maturities of up to one (1) year].

Outstanding FCDU loans were mostly medium- to long-term [or those payable over a term of more than one (1) year], which represented 69.7 percent of total; ST accounts comprised the 30.3 percent balance.

FCDU deposit liabilities increased slightly from US$34.7 billion in June to US$34.9 billion by September 2016. The bulk of deposits (97.2 percent) continued to be held by residents. FCDU deposits represent additional buffer (against external shocks), secondary to the country’s gross international reserves. The overall loans-to-deposit ratio (LDR) increased to 35.6 percent from 34.8 percent.

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