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Thrift Banks' Exposure to the Real Estate Sector as of End-2003

04.05.2004

As of 31 December 2003, the thrift banking system’s exposure to the real estate industry amounted to P44.4 billion, consisting of P44.2 billion (or 99.8 percent) loans and P152 million or 0.2 percent investments. These exposures accounted for 20.9 percent of the combined loan and investment portfolio of thrift banks and represents a 2.9 percent year-on-year growth.

Real estate loans (RELs) stood at 28.6 percent of total outstanding loans (TOL). This was lower by 1.1 percentage points from the previous year’s 29.7 percent ratio as the 6.5 percent increase in TOL outmatched the 2.8 percent rise in RELs.

Meanwhile, the bulk of RELs (67.7 percent or P29.9 billion) was granted for the acquisition of residential units by individual homeowners/borrowers. The balance of 32.3 percent or P14.3 billion was extended for the construction and development of real estate properties for commercial purposes including infrastructure projects.

Past due RELs went up by 1.5 percent to P7.5 billion from last quarter’s P7.4 billion. Thus, the ratio of past due RELs to total RELs rose to 16.9 percent from 16.8 percent last quarter. This quarter’s past due RELs were also higher than the previous year, both in terms of level and ratio, i.e., P5.5 billion and 12.9 percent, respectively.

The National Capital Region (NCR) with P32.6 billion or 73.7 percent of total RELs, continued to be the major beneficiary of real estate lending of thrift banks. This was followed by Region IV-Southern Tagalog with P5.0 billion or 11.3 percent.

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