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FCDU Loans up slightly in Q4 2016

03.31.2017

Bangko Sentral ng Pilipinas Governor Amando M. Tetangco, Jr. announced today that as of end-December 2016, outstanding loans granted by FCDUs of banks stood at US$12.5 billion, higher by US$75 million (0.6 percent) from the end-September 2016 level, as disbursements exceeded principal repayments.

A year-on-year comparison also shows a growth of US$0.3 billion as transactions resulted in overall net disbursements of US$305 million with positive adjustments (due to exchange rate movements and other audit adjustments) of US$12 million.

Outstanding loans to resident borrowers were down by 0.7 percent (from US$8.48 billion to US$8.42 billion) in the fourth quarter, representing 67.3 percent of total; the following sectors/industries were the major beneficiaries: merchandise and service exporters (US$3.1 billion or 25.1 percent of total); towing, tanker, trucking and forwarding (US$2.5 billion or 20.1 percent of total); public utility firms (US$1.3 billion or 10.3 percent of total); producers/manufacturers, including oil companies (US$0.6 billion or 4.4 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 3.7 percent) were loans to other borrowers, including the public sector.

Gross disbursements during the reference quarter were higher from US$10.4 billion in the previous quarter to US$13.1 billion in the fourth quarter, with about 93.9 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 70.4 percent of total; ST accounts comprised the 29.6 percent balance.

FCDU deposit liabilities increased from US$34.9 billion in September to US$35.9 billion by December 2016. The bulk of deposits (97.6 percent) continued to be held by residents. FCDU deposits represent additional source of foreign exchange liquidity for the economy. The overall loans-to-deposit ratio (LDR) decreased to 34.9 percent from 35.6 percent.

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