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FCDU Loans up in 1st Quarter of 2018

06.29.2018

Bangko Sentral ng Pilipinas Governor Nestor A. Espenilla, Jr. announced today that as of end-March 2018, outstanding loans granted by Foreign Currency Deposit Units of banks stood at US$16.4 billion, up by US$985 million (6.4 percent) from the end-December 2017 level of US$15.4 billion as disbursements exceeded principal repayments.

The maturity mix of the loan portfolio remained biased towards medium- to long-term debt [or those payable over a term of more than one (1) year], which represented 74.2 percent of total.

The bulk of outstanding loans went to the following resident industries: towing, tanker, trucking and forwarding (24.1 percent); merchandise and service exporters (20.1 percent); public utility firms (11.4 percent); producers/manufacturers, including oil companies (6.7 percent).

 Gross disbursements during the reference quarter reached US$15.6 billion and were 1.7 percent lower than the previous quarter’s figure. Loan repayments were likewise lower by 5.5 percent but still lower than disbursements, resulting in overall net disbursements of US$972 million.

FCDU deposit liabilities likewise decreased by US$796 million to US$38.4 billion from last quarter’s US$39.2 billion level, with the bulk (96.8 percent) continuing to be held by residents.

The overall loan-to-deposit ratio improved to 42.6 percent from 39.2 percent a quarter ago with the expansion in loan portfolio vis-à-vis decline in FCDU deposits.

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